buy mggt

Wee punt, went short (SB) @ 359.2 stop 366.30

Nice intraday turnaround showing real strength and is very cheap is MGGT on a forwarsd P/E of just 12 to end of this financial year.

Just bought into todays pick Splat DNLM dunelm off on a blue run dyor.

Will get a chart up later.

And Out 349.10 +10.10

Don't mention 'dreamliner'!

Contract Win

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, announces that Snecma (Safran Group) has selected Meggitt Sensing Systems to provide a key package of sensor products for the LEAP-1B engine. Developed by CFM International (1), the engine will power the Boeing 737MAX, which has already secured orders for over 1,000 aircraft.

Meggitt estimates the agreement will generate revenues (including original equipment, spares and repairs) of more than $300 million over the life of this engine.

Rumours of a bid coming:
"United Technologies could be gearing up to launch a £5bn or 625p a share cash bid, two years after acquiring US aerospace manufacturer Goodrich."

Harry - Is this takeover rumour still alive? Nice bounce on a down day.

And again today so far. Ex-Divi tomorrow. Went long yesterday SB @ 484.76, moved stop to lock in +5. If it closes above 500p happy days.

Out for +10. May regret it but will wait for tomorrow to see how ex-divi affects sp. Long or short..

Buy order left @ 492.06

The rumour came from the FT journo's, but I suspect it has become fish & chip wrapping now. If I hear any more I will post it here, but don't hold your breath.

Ok, thanks Harry.

Out +1 + divi. Back on watch list.

Keeps trying, dipped another toe in today on the spreads @ 492.0 tight stop. Volume needs pumping up.

StockMarketWire.com
Meggitt said Q3 trading was below expectations due to a marked deterioration in September. In response to current trading conditions it plans to cut 300 staff, subject to consultation, with an exceptional cost booked in 2015.

Continued organic (excluding the effects of M&A and foreign exchange) growth in civil original equipment of +2% was more than offset by weaker than expected trading in civil aftermarket (0%), military (-2%) and energy (-16%) markets, resulting in an organic decline of 1% in the quarter.

Q3 profitability has been impacted by mix, both across end markets and within the aftermarket following lower than anticipated spares volumes for older civil and military aircraft.

"Additionally, lower volumes and a number of programme deferrals announced by customers have also impacted margins. Energy markets continued to weaken, with the further organic decline resulting in lower than expected overhead absorption," the company said.

"These factors are expected to persist through the fourth quarter, which will result in underlying operating profit for the year being meaningfully below the current company compiled consensus estimate of £369m.

"Free cash flow for the Group remains strong, although given the lower than expected profit outturn for 2015 this will result in financial gearing higher than the previously guided level of 2.1x net debt:EBITDA.

"In response to current trading conditions, we have expanded our cost reduction activity and are assessing options to reduce our global employee base by approximately 300.

"This process will be complete, subject to consultation where required, by the end of the first quarter 2016. The associated cost will be taken as an exceptional charge in 2015."

MEGGITT DIRECTOR DEALS

Dec.Date Type Director Pos No. of Shares
02/11/2015 BUY Guy Berruyer NED 10,000
30/10/2015 BUY Doug Webb FD 30,000
30/10/2015 BUY Stephen Young CEO 100,000
30/10/2015 BUY Sir Nigel Rudd CH 57,000
13/10/2015 BUY Stephen Young CEO 26

LATEST BROKER VIEWS

Date Broker New target Recomm.
3 Nov Barclays... 420.00 Overweight
30 Oct Citigroup N/A Neutral
30 Oct JP Morgan... 380.00 Neutral
29 Oct Barclays... 610.00 Overweight
29 Oct Societe... 400.00 Hold
29 Oct Deutsche Bank 375.00 Hold
28 Oct Investec N/A Buy
28 Oct Liberum Capital 500.00 Hold
19 Oct Barclays... 610.00 Overweight
15 Oct Haitong... 550.00 Buy

Well oversold, hell of a gap to fill. Watching.

Can see Barclays logic 420p first line of resistance.

Meggitt wins Boeing 777X smoke detection contract

StockMarketWire.com

For immediate release

25 November 2015






Meggitt PLC

("Meggitt")



Completion of Acquisition



Meggitt completes acquisition of the advanced composites businesses of Cobham plc



Further to the announcement made on 10 August 2015, Meggitt confirms that the acquisition of the advanced composites businesses of Cobham plc (Cobham Advanced Composites Limited, Compass Composites Products Inc and certain assets of Cobham Advanced Electronic Solutions Inc) for $US 200 million in cash has now received all necessary approvals and the transaction has been completed.



The acquired businesses will be integrated into Meggitt's polymers and composites division.



ENDS



For further information, please contact:


Meggitt

01202 597 597


Doug Webb, Chief Financial Officer




Richard Cashin, Group Head of Investor Relations









Buchanan Communications

020 7466 5000


Charles Ryland




Richard Oldworth




Editor's notes:

About the advanced composites businesses of Cobham plc

The advanced composites businesses of Cobham plc comprise Cobham Advanced Composites Limited, Compass Composite Products Inc and certain assets of Cobham Advanced Electronic Solutions Inc. With a combined workforce of over 480 employees across four facilities in the US and the UK, the businesses are global leaders in the design, development and production of highly engineered aerospace composite engine components, radomes and structures. With over 30 years' advanced composite products experience, they have developed significant intellectual property and deep manufacturing know-how over decades and, through substantial investment, strong, established market positions.

Meggitt PLC