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Meggitt Expects Group Organic Revenue To Be 30% Lower In Q2 - Quick Facts

Meggitt PLC (MGGT.L) said it expects group organic revenue to be about 30% lower in the second quarter.

The company's defence business, which represented 36% of Group revenue in 2019, continued to perform solidly during the second quarter after a very strong first quarter and against a tough comparative (Q2 2019 growth of 10%). Energy revenue is expected to be "somewhat softer, with strength in LNG markets more than offset by declines in the power generation and oil sectors."

Group revenue in the first half is expected to be about 15% lower than in the first half of 2019 on an organic basis, with growth in Defence more than offset by lower revenues in both civil aerospace and Energy.

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