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Meggitt has heeded the government’s call to help make ventilator by leading a consortium of firms in the sector in this effort. But the defence and engineering firm announced it could not give earnings guidance for the rest of the year, due to coronavirus uncertainty. Meggitt is one of Britain’s biggest companies with expertise in [...]
Meggitt said that it would be impacted by both the coronavirus outbreak and the halt in production of the 737 Max after in year in which the aerospace engineers boosted profit by 33 per cent. Shares in the British firm fell 2.7 per cent by midday. The figures Statutory profit before tax increased from £216.1m [...]
Engineering firm Meggitt enjoyed a five per cent spike in its share price this morning after upping prediction for annual revenue growth to between four per cent and six per cent. The FTSE 250 defence contractor has taken a significant hit in recent months, after Boeing grounded its 737 Max jet earlier this year in [...]
Meggitt shares rose today as the engineering company reported nine per cent revenue growth in the first quarter, but warned this was likely to slow down in the coming year. The warning comes after important client Boeing cut production of its 737 Max jet. Read more: Meggitt spends £5m on Brexit stockpiling The British listed aerospace [...]
Some of Britain’s biggest engineering companies lost hundreds of millions in market value this morning after Boeing announced it will cut production of its 737 Max range by nearly 20 per cent. Suppliers to the US firm including Rolls-Royce lost out as investors digested the news announced on Friday afternoon, which is the latest blow [...]
Defence engineering firm Meggitt has spent as much as £5m stockpiling parts and hiring extra customs officials as part of its plans to mitigate a potential no-deal Brexit. The firm’s shares slumped this morning as it announced in its full-year results it would take around two years before its operating margins significantly improve after being [...]
Aerospace firm Meggitt has has agreed to provide parts for US fighter jet engines for the next decade in a $750m (£582.8m) deal with engine supplier Pratt and Whitney. The FTSE 250 high-performance part specialist Meggitt will supply advanced engine composites to the US company, which builds engines for the F-22 Raptor and F-35 Lightning [...]
Who’s switching jobs today? Mayer Brown Global law firm Mayer Brown announced that Ashley McDermott has joined the firm’s banking and finance practice in London as a partner. He will advise on a range of lending transactions, particularly those involving emerging markets. Ashley’s practice is focused on export, trade and multilateral financing, especially in the [...]
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