Chemring subsidiary wins contracts worth £23m

Chemring, which is currently being investigated by the Serious Fraud Office for alleged money laundering, bribery and corruption, said on Thursday that its subsidiary, Chemring Countermeasures, has been awarded contracts for export customers worth a total of £23m.

Deliveries under these contracts will be made until the end of 2022, with all work being performed at CCM's facility at High Post, Salisbury.

Chief executive Michael Flowers said: "We are delighted to receive these significant multi-year awards in support of our international customer base. They further consolidate our position in the global countermeasures market and are testament to the trusted position the group holds.

"We look forward to continuing to deliver the highest performing and highest quality infra-red decoys in support of our customers' critical missions."

At 1425 GMT, the shares were up 0.8% to 193.20p.