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Chemring receives cash advance related to ammunition contract

Fri, 6th Oct 2017 15:15

(ShareCast News) - Chemring said on Friday that it has received the cash advance payment and export licenses associated with the $30m contract to supply 40mm ammunition to an international customer.

The company said the first delivery has been approved by the customer and shipments will be ongoing, with the majority of associated revenue and profit to be recognised in FY17.

"The board's expectations for FY17 full year performance remain unchanged," it said.

At 1515 BST, the shares were up 4.4% to 179p.

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