British engineer Meggitt raised its forecast for 2018 organic revenue growth to 4-6 percent from 2-4 percent on Monday after a stronger-than-anticipated second quarter and said it would reorganise into four divisions.
Meggitt shares were up 2.5 percent in early trade following the trading statement.
Meggitt, which had earlier said it expected improvement in its military and energy businesses in 2018, said its second quarter was boosted by strength across its civil aftermarket, military and energy segments.
Slower-than-anticipated recovery at its polymers and composites division in the first half, however, would keep operating margins at the lower end of its 17.7 to 18 percent guidance range, the maker of components for vehicles, aircraft and the energy industry said.
Meggitt provides valves and monitoring equipment for power generators, as well as equipment for the oil and gas market.
The company also said it plans to reorganise into four divisions to help boost profitability, but did not provide details of the plan.
The company is scheduled to announce results on August 7 for the six months to June 30.