BOURNEMOUTH-based engineering company Meggitt PLC has seen organic revenue grow despite uncertainty over military spending.

The FTSE 100 company, based at Bournemouth Airport’s Aviation Park West, pictured, said underlying trading in the third quarter of this year was broadly in line with expectations.

Organic revenue growth – excluding the effects of mergers and acquisitions and foreign exchange – was five per cent, the company’s interim statement said.

It had seen 18 per cent growth in civil original equipment, a four per cent growth in civil ‘aftermarketing’ and a return to military growth (five per cent) off-setting a seven per cent decline in the energy sector.

Total reported revenue in the third quarter declined by two per cent, with the organic growth more than offset by the negative impact of foreign exchange translation, acquisitions and disposals.

It expected the organic growth rate to fall off in the final quarter of the year and expected organic growth in the low to mid-single digits in 2015.

The group is beginning a share buyback programme today.