LONDON (Reuters) - British auto and aircraft parts maker Meggitt (MGGT.L) reiterated its annual guidance for a 2 to 4 percent rise in organic revenue after it reported first-half results helped by currency moves and civil aerospace demand.
The group reported flat first-half organic revenue and a 7 percent rise in underlying operating profit, with the civil aerospace division offsetting a weak performance in energy and flat military revenue.
Its underlying operating margin fell to 18 percent, which it attributed to a second-half weighting of revenue and timing of research and development costs. It reiterated its full-year target 19.1 to 19.4 percent.
Reporting by Kate Holton; editing by Jason Neely