Stock Market News
Meggitt sees 'significant' non-cash exceptional tax credit from US reforms
Meggitt, a FTSE 250 engineering business specialising in aerospace equipment, said on Thursday that it expects changes to the US tax system to result in a "significant" non-cash exceptional tax credit in its 2017 financial results due to the revaluation of certain US deferred tax liabilities.
The group, which is still working through the full impact of the new legislation that cuts the corporate tax rate to 21% from 35%, will provide further guidance at its 2017 full-year results presentation next month.
Its preliminary assessment is that the announced changes will reduce the company's headline underlying effective tax rate to between 20% and 22% from the previously-guided rate of 24% for 2017.
At 0820 GMT, the shares were down 0.5% to 469.60p.
The group, which is still working through the full impact of the new legislation that cuts the corporate tax rate to 21% from 35%, will provide further guidance at its 2017 full-year results presentation next month.
Its preliminary assessment is that the announced changes will reduce the company's headline underlying effective tax rate to between 20% and 22% from the previously-guided rate of 24% for 2017.
At 0820 GMT, the shares were down 0.5% to 469.60p.
Related share prices |
---|
Meggitt (MGGT) share price |
Stock News headlines are gathered from financial news sources around the web. Views and opinions on each item are from their respective authors and website. They are not opinions of LiveCharts.co.uk
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- Top Large UK Shares
- UK Market Sectors
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Royal Mail share price
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Santander share price
- NEXT share price
- Diageo share price
- BP share price
- Vodafone share price
- British Airways
- Centrica share price
- Tesco share price
- Taylor Wimpey Share Price
- National Grid
- GKP Share Price
- Marks and Spencer
- Rolls Royce
- Rio Tinto
- THG Share Price
- Aviva Share Price
- Boil Share price
- Easyjet Share Price
- Genedrive Share Price
- SSE Share Price
- IAG Share Price
- Boohoo share price
- HE1 share price
- AVCT share price
- BOOM share price