TechMARK movers: Meggitt falls back

3rd Aug 2010 14:22

News that orders are picking up was not enough to prevent a fall in the Meggitt share price. The engineering and aerospace group says civil aerospace orders have already improved and military revenues should pick up later this year. Revenue in the first half of 2010 fell 6% to £549.7m from £586.4m in the first half of 2009. Underlying profit before tax improved 3% to £116.2m from £112.3m. Statutory pre-tax profit fell by 34%, however, to £66.3m from £100.1m. The main difference relates to the movements in the fair value of financial instruments. Net debt is £855m. The interim dividend has been raised from 2.7p to 2.85p a share.Share buying by the wife of Filtronic director Reginald Gott has helped the wireless telecoms equipment supplier to more than make up for yesterday's share price fall following its results.Alison Gott acquired 28,515 shares at 35.7p each. Filtronic reported sharply lower revenues and the business fell into loss in the year to May 2010. Filtronic is spending some of its cash pile on base station technology developer Isotek. Panmure Gordon expects Filtronic to return to profit in 2010-11. FTSE TechMARK - RisersParity Group (PTY) 7.25p +6.90%Dialight (DIA) 370.00p +5.19%Filtronic (FTC) 35.75p +5.15%BATM Advanced (BVC) 27.00p +3.85%Torotrak (TRK) 22.50p +3.45%XP Power (XPP) 753.50p +3.29%CML Microsystems (CML) 102.00p +3.03%Shire Plc (SHP) 1,488.00p +2.34%Electronic Data Processing (EDP) 48.50p +2.11%Oxford Instruments (OXIG) 335.00p +1.52%FTSE TechMARK - FallersMeggitt (MGGT) 294.40p -4.51%Telecity Group (TCY) 419.10p -3.66%Emblaze (BLZ) 35.50p -3.40%Puricore (PURI) 53.00p -2.75%Kewill (KWL) 120.00p -2.44%Optos (OPTS) 102.00p -2.39%Vectura Group (VEC) 44.25p -2.21%Antisoma (ASM) 5.50p -2.14%Triad Group (TRD) 25.00p -2.00%Phytopharm (PYM) 8.13p -1.45%