Meggitt, the engineering company focused on the aerospace, defence and energy markets, saw strong growth across all of its markets in 2011.
Revenue in 2011 rose by a quarter to £1,455.3m from £1,162.0m in 2010, and roughly in line with market expectations of £1,458.7m. The company said it continues to expect organic revenue growth of 6 to 7% on average over the next five years.
Adjusted profit before tax was comfortably ahead of expectations of £290.2m at £323.0m, up 26% on 2010's £256.1m.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Earnings per share rose 15% to 31.9p from 27.8p the year before. Analysts following the company had expected earnings per share of 31.0p.
The full year dividend has been bumped up 14% to 10.5p (consensus: 9.98p) from 9.20p.
More to follow ...
-
8 of the best houses for sale with annexesThe best houses with annexes – from a period property in the Lake District to a 13th-century house with a two-bedroom annexe in Saltwood, Kent
-
Zelenskyy moves to appease Donald Trump – what happens now?Ukraine’s president Volodymyr Zelenskyy is conceding ground to secure the least-worst deal possible, says Emily Hohler
