Britain's Meggitt on track to meet annual forecasts

LONDON, Aug 1 (Reuters) - British auto and aircraft parts maker Meggitt (Other OTC: MEGGF - news) reiterated its annual guidance for a 2 to 4 percent rise in organic revenue after it reported first-half results helped by currency moves and civil aerospace demand.

The group reported flat first-half organic revenue and a 7 percent rise in underlying operating profit, with the civil aerospace division offsetting a weak performance in energy and flat military revenue.

Its underlying operating margin fell to 18 percent, which it attributed to a second-half weighting of revenue and timing of research and development costs. It reiterated its full-year target 19.1 to 19.4 percent.

(Reporting by Kate Holton; editing by Jason Neely)