Meggitt director stocks up following good H1 revenue growth

14th Aug 2012 16:58

Peter Huber, the President of Sensing Systems at Meggitt Group, purchased 8,616 shares in the firm for 409p each. The £35,239 transaction took place just a week after the aerospace components engineer said it entered the second half of the year with good momentum and an improved order book, although the civil aerospace after-market was a bit soft. Revenue in the first half of 2012 was up 19% at £776m from £649.8m in the corresponding period of 2011, while the order book finished the period up 8% year-on-year. The top line growth was flattered by a full six-month contribution this time round from Pacific Scientific (PacSci), which it acquired for $685m in April 2011. On a "pro-forma" basis (assuming PacSci had been acquired on January 1st 2011) group revenue increased by 8%, with growth in all major markets. Huber now holds 137,971 shares in the company, equal to 0.02% of the issued share capital. Top Director BuysNorth Atlantic Smaller Companies Inv Trust (NAS) Director name: Mr Christopher H B MillsAmount purchased: 7,500 @ 1,020.00p Value: £76,500Top Director SellsJohn Lewis of Hungerford (JLH) Director name: Mr John L LewisAmount sold: 5,000,000 @ 0.50p Value: £25,000NR