Flight path to growth

Meggitt has had a turbulent few years with numerous profit warnings and no organic growth since FY13. FY16 looks to be the start of the turnaround, with the recent Q3 trading statement indicating the company is on course to meet guidance for low single-digit organic revenue expansion this year. However, the company has some way to go to restore investor confidence. It was also announced that Rolls-Royce veteran Tony Wood is joining as COO, a boost to the Meggitt management team.