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Meggitt shares nosedive as it warns on profits and job cuts

Discussion in 'Market News' started by Lily, Oct 28, 2015.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
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    Shares in engineer plunge 24% after bleak update, wiping more than £800m off company’s value

    Meggitt lost almost a quarter of its market value after the FTSE 100 engineer warned annual profit would be well below forecasts and that it would cut about 300 jobs.

    Shares in the maker of parts for the aerospace, military and energy industries tumbled by 24% after a grim trading update, wiping more than £800m off the company’s value.

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