12th May 2005 12:00
Meggitt PLC12 May 2005 12 May 2005 MEGGITT PLC AGM STATEMENT Sir Colin Terry, KBE, CB, Chairman of Meggitt PLC, commented at the AGM today: "2005 has started well. Following the acquisition of Dunlop Aerospace in August2004 the Group now serves a well balanced range of markets with approximately40% of the Group's turnover in 2005 expected to be derived from civil aerospace,40% from military and the remaining 20% from industrial markets and electronics.The recovery in the civil aerospace market has continued with ordersincreasing for both original equipment and the aftermarket. The outlook formilitary sales is also positive, driven by the ongoing increase in militaryexpenditure, particularly in the USA. Electronics, which accounts for less than15% of our turnover, continues to see slower demand. Notwithstanding this theGroup's order book at the end of March 2005 was 8% higher than at the end of2004 at constant exchange rates. The integration of the businesses acquired in 2004 continues to plan and theirperformance is in line with expectations. The US dollar remains weak butoverall the Board continues to believe that the Group remains on track todeliver another strong year in 2005." Contacts: Meggitt PLC 01202 847847 Terry Twigger, Chief Executive Stephen Young, Group Finance Director or Buchanan Communications 020 7466 5000 Charles Ryland/Jeremy Garcia This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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