LONDON (dpa-AFX) - Meggitt plc (MGGT.L) reported a pretax loss of 368.4 million pounds for the six months ended 30 June 2020 compared to profit of 72.6 million pounds, previous year. Loss per share was 43.7 pence compared to profit of 7.2 pence. Underlying profit before tax declined to 85.5 million pounds from 145.4 million pounds. Underlying earnings per share was 8.5 pence compared to 14.5 pence.
First half revenue declined to 916.8 million pounds from 1.07 billion pounds, previous year. The Group said its organic revenue was down 13% with a robust performance in Defence, where revenues grew 7%, more than offset by significantly lower revenues in Civil Aerospace and Energy where revenue was 27% and 6% lower respectively.
The Board concluded that it was prudent not to pay a final dividend for 2019. In light of ongoing challenging market conditions, the Board is not recommending the payment of an interim dividend for 2020.
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