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UK’s Meggitt says financial position strong after press…

LONDON, Aug 6 – British engineer Meggitt said its financial position and liquidity remain strong in a statement issued in response to press speculation which said it might need to raise new equity because of the pandemic.

Meggitt makes parts for planemakers such as Airbus and Boeing, a sector which has been hard hit by the coronavirus pandemic.

The company said on Thursday it had a range of actions to mitigate any material adverse change to the industry outlook, adding that the group continued to trade in line with its expectations although uncertatiny remained. (Reporting by Sarah Young; editing by Kate Holton)

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