Meggitt returns to profit despite fall in military orders

first_img Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap AEROPLANE parts supplier Meggitt said in a third quarter update it had returned to sales growth, driven by a strong performance from its civil aerospace arm, and stronger order volumes.Meggitt, which supplies products such as flight displays and wheels to aircraft manufacturers such as Airbus and Boeing said revenues grew one per cent year-on-year in the third quarter after having fallen 10 per cent in the first quarter and two per cent in the second quarter.It said civil aviation equipment, maintenance and energy revenues grew in the quarter driven by a 17 per cent increase in order intake on last year but that military revenues were down. Order intake for the last nine months was seven per cent ahead of the same period last year. Civil aviation orders were up more than 25 per cent but military orders were down eight per cent as a result of multi-year orders received last year. “Revenues grew, continuing an improving trend and, together with the healthy order intake, gives us confidence that we will see further revenue growth in the fourth quarter and modest growth for the year,” the company said in a statement. Share Meggitt returns to profit despite fall in military orders Tags: NULL Thursday 4 November 2010 10:55 pm whatsapp KCS-content Show Comments ▼ whatsapp last_img

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