Analyst Research Report Snapshot

Title:

MEGGITT - BRAKING DOWN BARRIERS

Price:

$10.00

Provider:

Edison Investment Research

Date:

03 Mar 2010

Pages:

2

Type:

AcrobatPDF

Companies referenced:

MGGT.L

Available for Immediate Download
Summary:

Meggitt’s results demonstrated the twin-track nature of many companies in the sector with the defence businesses robust and civil weak, accentuated by severe customer destocking. Meggitt’s quick action to restructure the group saw £34m of a £50m cost-cutting exercise delivered at a quicker pace than anticipated and this allowed the group to maintain EBITDA at a similar level. Meggitt’s high-margin aircraft brakes businesses have been hit hard, however it is set to benefit from the gradual recovery in air traffic throughout 2010. The rating has recovered from the lows of 12 months ago, but we feel that further progress will be required to push it higher.

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