Meggitt reports Q3 results and full year guidance

Aerospace component provider, Meggitt, has posted a fall of 25% in group revenue to £384million in the third quarter of 2020. For the first nine months of the year, revenue fell by 18% to £1.301bn. “While conditions in the global civil aerospace sector remained weak during the third quarter, our top line performance slightly improved, with revenue down 25% in the period, compared with down 30% in the second quarter, reflecting the breadth of our end markets and the continued strong performance of our defence business and growth in energy,” said CEO Tony Wood. “Although expectations of the extent of