Meggitt experienced a marked deterioration in Q3. Organic growth in civil original equipment continued with the segment growing +2%, however this was more than offset by a weaker than expected performance in the civil aftermarket (0%), military (-2%) and energy (-16%) markets. Overall, the group saw revenues decline by 1% organically in Q3. Worryingly, profitability in Q3 will be more impacted by the negative mix effect. Both military and civil aircraft aftermarket sales were lower than antic
03 Nov 2015
Air pocket hits hard
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Air pocket hits hard
- Published:
03 Nov 2015 -
Author:
Thomas Picherit -
Pages:
2
Meggitt experienced a marked deterioration in Q3. Organic growth in civil original equipment continued with the segment growing +2%, however this was more than offset by a weaker than expected performance in the civil aftermarket (0%), military (-2%) and energy (-16%) markets. Overall, the group saw revenues decline by 1% organically in Q3. Worryingly, profitability in Q3 will be more impacted by the negative mix effect. Both military and civil aircraft aftermarket sales were lower than antic