British aerospace company Meggitt has said it expects further growth this year as it met forecasts with a 45 per cent rise in underlying 2007 operating profit.
Chief executive Terry Twigger said the integration of US aircraft part maker K&F Industries Holdings was "progressing well" and that the group would exceed its targeted savings
Last March, Meggitt, parent of Coventry firm Dunlop Aerospace, unveiled its $1.8 billion (£906 million) acquisition of K&F to bolster its position in aircraft wheels and brakes and help its sales to organisations such as the US Department of Defense.
Meggitt, which also makes aircraft flight displays, fire detection systems and unmanned air vehicles, said it made an operating profit before amortisation and exceptional items of £216.3 million last year, on revenue up 31 per cent to £878 million.
The final dividend was set at 5.75 pence, making the total dividend 11.4 percent higher at 8.20 pence.
Meggitt shares, which have underperformed other London-listed aerospace sector companies by 5 percent over the past 12 months, closed at 283.25 pence on Monday to value the business at £1.87 billion.