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BRIEF-Meggitt's Q1 trading in line with expectations
April 27, 2017 / 6:16 AM / in 7 months

BRIEF-Meggitt's Q1 trading in line with expectations

April 27 (Reuters) - Meggitt Plc

* Trading during Q1 of 2017 has been in line with expectations

* Reported revenue growth of 9% including effects of foreign exchange and disposal of meggitt target systems

* Looking forward, group continues to expect 2-4% organic revenue growth for year

* On an organic basis, revenue declined by 1%, consistent with our expectation that revenue and earnings will be weighted towards second half of year.

* Civil aerospace revenue grew 3% organically

* Original equipment revenues grew 3%, with strong growth in large jets partly offset by continued softness in business jet and civil rotorcraft

* Organic aftermarket revenues also grew 3%, with good growth in business jets but lower demand for regional jet spares.

* Military revenues declined by 5% organically with continuing resolution in us affecting demand in quarter, despite positive outlook for medium-term budget growth Source text for Eikon: Further company coverage: (Reporting By Alistair Smout)

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