Meggitt reported FY18 results that were in line with the market expectation. Overall revenues are up 9% yoy on an organic basis and 4% as reported. Underlying EBIT was up 3.8% for a stable margin of 17.7%. By segment: Civil Aerospace, revenues grew by +6% yoy. Civil Aftermarket grew by +8% yoy. Defence, revenues grew by +10%. Energy, revenues were up by +19% yoy. Net income was £179m, down 39% yoy whilst EPS grew by 7% to 34.2p. Free cash flow conversion stood at £167.4m vs. &poun

27 Feb 2019
No major surprises

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No major surprises
- Published:
27 Feb 2019 -
Author:
Hugo Paternoster -
Pages:
3 -
Meggitt reported FY18 results that were in line with the market expectation. Overall revenues are up 9% yoy on an organic basis and 4% as reported. Underlying EBIT was up 3.8% for a stable margin of 17.7%. By segment: Civil Aerospace, revenues grew by +6% yoy. Civil Aftermarket grew by +8% yoy. Defence, revenues grew by +10%. Energy, revenues were up by +19% yoy. Net income was £179m, down 39% yoy whilst EPS grew by 7% to 34.2p. Free cash flow conversion stood at £167.4m vs. &poun