Meggitt (MGGT)

Business description

Meggitt is a global manufacturer of aerospace equipment, sensing and defence systems. Its end markets are Civil Aerospace (41%), Military (45%) and Energy & Other (14%).

Acquisition of EDAC's composites division

QuickView | Aerospace & Defence | 23/09/2015

In double-quick time Meggitt has developed a strong position in the aerospace composites market, focusing on civil engine components and structures. The rapid capital deployment into this high-growth segment should improve perception following recent travails, and start to move focus away from the issues at the smaller oil & gas exposure at Heatric. The recent acquisitions are a reinforcement of Meggitt’s aerospace credentials and should lead to some recovery in the rating decline seen over the last two years.

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Stock data

Market cap.£2826.3m
Last close364.600p
High / Low (52 weeks)587.5p / 347.3p
Stock market listingLN, LN
Forecast net debt (£m)506
Forecast gearing ratio (%)N/A
TeamIndustrials
SectorAerospace & Defence

Price performance

%1m3m12m
Actual0.9(23.7)(29.8)
Relative *1.4(18.9)(25)

* % Relative to local index