- International engineering company, Meggitt, has confirmed trading in January and February was 'in line with expectations', despite the rapidly changing external environment.

It will announce the details of its first quarter trading in a Q1 statement slated for April 23, 2020, but said it has already 'put in place a broad range of measures to significantly reduce cost and manage our liquidity over the coming months'.

At 31 December 2019, Meggitt's net debt including leases was £911m, of which £758m was bank and other borrowings net of cash and £153m related to leases. It had £1,564m of committed facilities in place providing headroom of £806m above our net borrowings of £758m.

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