Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • FEAnalytics.com
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  • Trustnetoffshore.com
  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
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  • to enable you to participate in interactive features of our service, when you choose to do so;
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  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

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Meggitt PLC (MGGT)

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Tuesday 14 November, 2017

Meggitt PLC

Q3 Trading Statement

RNS Number : 3813W
Meggitt PLC
14 November 2017
 

Q3 TRADING STATEMENT

 

14 November 2017

Meggitt PLC

 

Trading Update

 

Meggitt PLC ("Meggitt" or "the Group"), a leading international company specialising in high performance components and sub-systems for the aerospace, defence and energy markets, today issues a scheduled trading update.

 

Third quarter revenue growth for the Group was flat on an organic basis (excluding effects of M&A and foreign exchange), reflecting a slower ramp up of new civil programmes, which customers have indicated will continue into the fourth quarter, as well as the phasing of military orders and spares. On a reported basis, revenue declined 2%, including the effects of M&A and foreign exchange1

 

In the third quarter Civil aerospace grew 4% organically, driven mainly by large jets. Original equipment revenues grew 6%, even with the slower than expected ramp up of new programmes and declines in both regional and business jets. Aftermarket revenues increased 4% on an organic basis, with good large jet growth and a modest recovery in regional jet brakes partly offset by slowing growth in business jet spares.

 

Military revenues decreased 5% organically in the third quarter, driven by lower spares demand. Expectations of strong performance in the fourth quarter are underpinned by good growth in orders on platforms such as F/A-18 and Apache. In Energy, as expected, the rate of decline slowed with revenue down 8% on an organic basis in the quarter.

 

Looking forward, the Group remains on track to meet its full year guidance for organic revenue growth2 and underlying operating margin improvement3,despite slower ramp up on new civil programmes and the corresponding headwind from new product introduction costs, particularly in Meggitt Polymers and Composites.

 

Meggitt has today separately announced that Chief Executive, Stephen Young has informed the Board of his intention to retire at the end of April 2018. Tony Wood, currently Chief Operating Officer, will become Chief Executive with effect from 1 January 2018 and work with Stephen to ensure an orderly transition. 

 

Chief Executive, Stephen Young commented:

 

"Meggitt remains on track to meet full year guidance and we are pleased with progress across the business despite challenges in some of our end markets. Growth accelerated in civil aerospace during the third quarter and we expect to see further improvement in the fourth quarter, particularly in military where we have seen strong order growth in the last three months.  Our key strategic initiatives continue to deliver and we are well positioned for the future."

 

"I am delighted that Tony Wood will succeed me as Chief Executive. Since his appointment last year, Tony has made an important contribution to the Company, bringing significant operational expertise, broad leadership experience gained over 30 years in senior aerospace roles and a fresh perspective which has and will continue to accelerate momentum across our strategic initiatives."

 

1Q3 2016 $1.31/£1 vs Q3 2017 $1.29/£1

2 Organic growth of 2% to 4% for the full year

3 Underlying operating margin of 19.1% to 19.4% for the full year

 

Enquiries

 

Meggitt PLC                                                                                           +44 (0)1202 597 597

Doug Webb, Chief Financial Officer

Adrian Bunn, Vice President Strategy and Investor Relations

 

FTI Consulting                                                                                      +44 (0)20 3727 1000

Deborah Scott, Senior Managing Director

Nick Hasell, Managing Director

 

Cautionary statement

This trading update, including information included or incorporated by reference in this trading update, may contain forward-looking statements concerning Meggitt PLC or its group.  Generally, the words "will", "may", "should", "continue", "believes", "expects", "intends", "anticipates" or similar expressions identify forward-looking statements.  Such forward-looking statements involve risks, uncertainties and other important factors which could cause the actual results, performance or achievements of the Meggitt group or the market and economies in which the Meggitt group operates to be materially different from those expressed or implied by such forward-looking statements.  Many of these risks and uncertainties relate to factors that are beyond the ability of Meggitt PLC or its directors to control or estimate precisely, such as future market conditions and the behaviours of other market participants, and therefore undue reliance should not be placed on such statements, which speak only as at the date of this trading update.  Neither Meggitt PLC, nor any of its group undertakings, nor the directors of any of them, assumes any obligations to, and do not intend to, update these forward-looking statements, except as required pursuant to applicable law.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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