MGGT.L - Meggitt PLC

LSE - LSE Delayed Price. Currency in GBp
-0.50 (-0.16%)
At close: 4:35PM BST
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Previous close311.80
Bid314.80 x 0
Ask315.10 x 0
Day's range303.97 - 315.70
52-week range196.15 - 701.80
Avg. volume7,324,462
Market cap2.43B
Beta (5Y monthly)0.88
PE ratio (TTM)11.00
Earnings dateN/A
Forward dividend & yieldN/A (N/A)
Ex-dividend date19 Mar 2020
1y target estN/A
  • Financial Times

    Markets Now - Thursday 2nd July 2020

    Pfizer says it’ll pick its favoured candidate in the next month then start recruiting for efficacy and safety studies, which generally speaking involve around 30,000 patients. The next step is for Premier to get a stable platform agreement from creditors and launch a rights issue for about $200m, with a trading update scheduled for July 15 the most obvious opportunity.

  • Reuters

    Meggitt warns of sales drop as virus halts air travel

    The company, which makes parts used in planes, said revenue from its civil aerospace business is expected to decline about 30% in the first half, following a roughly 50% fall in the second quarter. Meggitt said its defence business continued to perform well but gains would be offset by the declines in its civil aerospace and energy units.

  • Reuters

    Meggitt cuts 1,800 jobs to save cash as coronavirus hits demand

    British engineering company Meggitt <MGGT.L> said it planned to shed about 1,800 jobs as part of a cost cutting plan to cope with a contraction in the world's air travel market due to the coronavirus pandemic. Meggitt, which makes parts used in planes, said on Thursday that it was too early to provide guidance for this year given the coronavirus crisis, and its focus was on cutting costs. The company said that it would cut jobs equivalent to 15% of its global workforce of 12,000 people, but a spokesman said there was no clarity on where those jobs would be lost.

  • World's governments draft manufacturers for virus treatment arsenal

    World's governments draft manufacturers for virus treatment arsenal

    LONDON/MILAN (Reuters) - From Washington to London, Beijing to Rome, governments are drafting automakers and aerospace manufacturers to ramp up production of ventilators and other medical equipment to bolster what most experts say is an inadequate arsenal of coronavirus treatment tools. Authorities are hoping large-scale manufacturers can use their low-cost supply chains and digital design expertise, including 3D printing, and repurpose some factories in order to make up the expected shortfall in vital medical hardware. Some of Britain's biggest aerospace and car companies have formed three teams to produce basic ventilators to help the country's National Health Service cope with the coronavirus outbreak.

  • Meggitt warns of growth hit from 737 MAX difficulties, coronavirus

    Meggitt warns of growth hit from 737 MAX difficulties, coronavirus

    Britain's Meggitt <MGGT.L> warned that future growth would be constrained by the halt to production of Boeing's <BA.N> 737 MAX aircraft and the economic impact of the coronavirus, knocking its shares. For 2020, Meggitt, which makes aerospace parts, said that organic revenue growth would be between 2% and 4%, trailing the 8% rise recorded last year, while underlying operating profit would take a 20 million pound ($26 million) hit from the two factors. The impact was split equally, with 10 million pounds from the Boeing issues and 10 million pounds from the rapid spread of the COVID-19 virus, mainly as a result of the drop in air traffic, Meggitt CEO Tony Wood said.

  • Reuters

    Meggitt boosts annual organic revenue forecast; warns of pressured margins

    The company, which supplies aerospace components and wheels and brakes for military fighter programmes, said it expects full year organic revenue growth between 6% and 7%, up from an earlier view of 4% to 6%. Meggitt is a key supplier to Airbus <AIR.PA> and Boeing, which earlier this year said it would cut production of its 737 MAX aircraft as it struggles with the worldwide grounding of the narrowbody jet following two fatal crashes in less than five months.