Aerospace supplier Meggitt expects organic growth to return later this year
Aerospace group Meggitt has said trading in the first quarter has been in line with expectations as it looks to the second of the year to generate the majority of its annual revenues.
The group, which has operations in Coventry and Birmingham, said Q1 reported revenue grew 9%, boosted by the effects of foreign exchange and the disposal of Meggitt Target Systems.
However, on an organic basis, revenue declined by 1%, which the group said was consistent with its forecasts that revenue and earnings would be weighted towards H2.
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