MTU Aero Engines, GKN Aerospace post strong gains – Supplier Share Wrap
Shares in German engine manufacturer MTU Aero Engines gained 2.9% in trading on Friday, while UK aerospace and automotive parts supplier GKN Aerospace gained 2.0%. GKN reported a 21% increase in revenue for the three months to 30-Sep-2010, while operating profit increased 92% to GBP100 million. The company reaffirmed its positive outlook for the final quarter of 2010 and forecast an improving 2011, as aerospace markets continue to return.
Other major movers were Goodrich, up 1.5%, Meggitt, up 1.4% and Honeywell, which gained 1.3%.
Selected Original Equipment Manufacturers daily share price movements (% change): 22-Oct-2010
Flight Centre shares lost 1.8% in trading. The company recently announced the purchase of 80% of a social networking site aimed at school-leavers and university students on one-year gap travels. The company is hoping to redress competition in the youth travel market.
Selected Aviation Suppliers & Leasing daily share price movements (% change): 22-Oct-2010