Meggitt lowers revenue guidance after tough Q3

Reuters

LONDON, Nov 1 (Reuters) - British aircraft parts supplierMeggitt lowered its full-year revenue guidance aftertrading over the last four months had been slightly below itsexpectations.

Meggitt, which supplies flight displays and wheels toplanemakers Airbus and Boeing, said on Friday itnow expects to report 2013 revenue growth in the low singledigits.

In August Meggitt said it expected to delivermid-single-digit revenue growth for the year.

The company also said it had identified a "raw materialsupply issue" and that it had put 20 million pounds ($32million) aside to account for the expected cost of rectifyingthe problem.

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