Business focus [News Business]

THE BUSINESS IMPACT of the US government´s continuing squeeze on military spending is hitting three quite different British defence companies. All three have recently published their half-year financial results, and they have each warned that they face more turbulence in the second half of the year. Meggitt saw revenue fall 11 per cent to ¿¿719m in the first half, compared with the same period in 2013. Profits at the maker of aircraft parts such as braking and controls systems fell 20 per cent to ¿¿98m.