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Meggitt flies into the red amid pandemic storm

Resilience in the group's defence business was unable to offset the downturn in civil aerospace
Meggitt flies into the red amid pandemic storm

As trading figures from Melrose (MRO) and Rolls-Royce (RR.) have already demonstrated, the collapse in global air travel due to Covid-19 has reverberated down the entire civil aerospace supply chain. As demand for new aircraft weakened and plane makers cut production rates, engineering group Meggitt (MGGT) saw revenue from civil aerospace plunge by more than a quarter in the six months to 30 June, to £432m. This more than offset the 4 per cent increase in revenue from its defence activities.

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