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Article: United Kingdom : Meggitt Stock Rises as K&F Acquisition Helps First-Half Profit.
- Article from:
- TendersInfo
- Article date:
- August 6, 2008
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Byline: kusumv03
Meggitt Plc, the U.K. maker of engine-monitoring systems for Airbus SAS and Boeing Co. airliners, rose the most in more than six years in London trading after saying the purchase of K&F Industry Holdings Inc. added to first-half profit.
Meggitt gained 20 pence, or 10 percent, to 211 pence, the biggest jump since March 5, 2002. The shares have fallen 37 percent this year.
Net income increased 20 percent to 57.5 million pounds ($112.3 million), or 8.7 pence a share, from 48 million pounds, or 8.3 pence, a year earlier, Wimborne, England-based Meggitt said today in a statement.
``Meggitt has a strong order book and a good ...