Meggitt (Buy/26% upside) reported quite bright Q1 sales growth figures. The group was supported by civil aftermarket revenue growth (+8%) while the Original Equipment reported a revenue decline of 2% yoy. Consequently, civil aerospace grew organically by 4%. The group was also very well supported by the Energy division which reported revenue growth (+39%) on a weak comparison basis and a strong order book. Lastly, military revenues grew by a weak 2%, penalised by delays in fighter and transpo
26 Apr 2018
Mixed Q1 revenue growth but confirmed FY guidance
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Mixed Q1 revenue growth but confirmed FY guidance
- Published:
26 Apr 2018 -
Author:
Marc Laubel -
Pages:
2
Meggitt (Buy/26% upside) reported quite bright Q1 sales growth figures. The group was supported by civil aftermarket revenue growth (+8%) while the Original Equipment reported a revenue decline of 2% yoy. Consequently, civil aerospace grew organically by 4%. The group was also very well supported by the Energy division which reported revenue growth (+39%) on a weak comparison basis and a strong order book. Lastly, military revenues grew by a weak 2%, penalised by delays in fighter and transpo