QuickView: Testing brakes
Another profit warning from Meggitt has come somewhat out of the blue. The sharp fall in H2 expectations combined with a lack of clarity over the outlook in FY16 leaves the market in the most unwelcome position. While we suspect that little has changed structurally for the investment case, and many of these issues are likely to prove transient, until a firmer outlook is provided the share price is likely to remain subdued. Any year-end trading update thus takes on greater significance than usual.Meggitt is the parent company of a group whose principal activities are the design and manufacture of components and sub-systems for aerospace, defense and other markets. Co. has five segments: Meggitt Aircraft Braking Systems, a providers of aircraft wheels, brakes and brake control systems; Meggitt Control Systems, which comprised of aircraft fire protection and control systems; Meggitt Polymers and Composites, which comprised of engine and aerodynamic seals, flexible fuel tanks and fuel systems; Meggitt Sensing Systems, a provider sensing and monitoring systems for aircraft; and Meggitt Equipment Group, which include unique heat transfer equipment for hydrocarbon processing.
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