UK-based Meggitt says recent acquisitions have increased its exposure to “a rapidly strengthening civil aerospace market and, in particular, the civil aftermarket”.
Meggitt has posted a 44% increase in turnover for the first six months of the year, to £296 million ($535 million), taking into account a £5.2 million negative impact from currency exchange. Civil aerospace accounted for 43% of the group’s turnover in the first half of 2005, compared with 31% in the same period a year earlier.
The proportion of military business has fallen, accounting for 39% of turnover in the first six months of 2005, compared with 48% a year earlier. Aftermarket for both civil and military customers accounted for 40% of turnover. Aerospace turnover as a whole increased by 60% to £219.2 million, including acquisitions andcurrency impact.
Source: Flight International