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Meggitt spends £5m on stockpiling for Brexit

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Defence engineering firm Meggitt has been stockpiling parts and has hired more customs officials costing £5m, in a bid to be ready for a no-deal Brexit.

The defence firms operating profit was £256.6m year ending 31 December down from £272.7m by 6% from 2017.

Revenue was up to £2.08bn compared to £2.24bn the previous year.

Tony Wood, chief executive said, “We have a clear growth strategy and remain focused on driving further improvements in customer and operating performance through our new customer-aligned organisation and the sustained deployment of the Meggitt Production System.”




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