The M is usually for Messanger but this one looks like it is for a company, what you read on the liner is the size(7) TTC, the maker of the liner (Teddy Toy Campany) the version of the liner as it is a MKII liner (The 2) ,1940 the is date of manufacture and the 276 on the helmet is the batch number.
Would a company camouflage them?
Sorry, forgot to say thanks!
I would agree with the above, not typical messenger badge M, looks to be in a circle and a makers/factory mark perhaps, but so many of these oddities are not known. Why stick a red logo on a camo helmet is anyones guess.
looks nice whatever the story behind it.
Whatever its just an opinion.
"Always do sober what you said you'd do drunk. That will teach you to keep your mouth shut." Ernest Hemingway