February 25, 2020 / 7:17 AM / a month ago

Meggitt sees 2020 growth constrained by 737 MAX difficulties, coronavirus impact

LONDON, Feb 25 (Reuters) - British engineering company Meggitt warned that its growth in 2020 would be constrained by the impact of the halt to production of Boeing’s 737 MAX aircraft, combined with the disruption caused by coronavirus.

The company said that organic revenue growth in 2020 would come in at between 2% to 4%. That compared with the 8% rise in organic revenue growth for 2019 which it posted on Tuesday, helping drive underlying operating profit up by 10% to 402.8 million pounds ($522.19 million). ($1 = 0.7714 pounds) (Reporting by Sarah Young; editing by Kate Holton)

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