Chemring orders rise, holds guidance
Chemring Group
353.00p
17:15 18/11/24
-0.84%
-3.00p
UK defence company Chemring Group reported a rise in orders and said 90% of expected 2023 revenue was now covered as it held full-year guidance.
Aerospace and Defence
11,743.35
17:09 18/11/24
0.88%
102.50
FTSE 250
20,395.41
17:09 18/11/24
n/a
n/a
FTSE 350
4,473.50
17:09 18/11/24
n/a
n/a
FTSE All-Share
4,431.13
16:49 18/11/24
n/a
n/a
The company’s order book was up to £677m at February 26 from £476m a year earlier, with strong demand in active cyberdefense, operational mission support and open-source intelligence services, and space-launch systems.
Chemring added that it expected performance and cash generation to be weighted toward the second half of the year due to order intake delays in 2022 as a result of the US government's extended Continuing Resolution spending bills.
Reporting by Frank Prenesti for Sharecast.com