November 12, 2019 / 7:28 AM / 7 months ago

Engineering firm Meggitt warns on annual margins due to 737MAX grounding

Nov 12 (Reuters) - British engineering firm Meggitt Plc on Tuesday raised its outlook for annual organic revenue growth, buoyed by good third-quarter performance in the U.S. defence market but warned of pressured margins due to the grounding of Boeing's 737MAX.

The company, which supplies aerospace components and wheels and brakes for military fighter programmes, said it expects full year organic revenue growth between 6% and 7%, and operating margin to be towards the lower end of its guidance range of 17.7% to 18.2%. (Reporting by Yadarisa Shabong in Bengaluru; Editing by Rashmi Aich)

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