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Chemring Group PLC - Romsey, Hampshire-based defence technology firm - Trading for current financial year ending October 31 so far remains in line with management expectations, as all sites remain open and operational.
Order intake for period ended February 28 is GBP128 million, down 3.0% from GBP132 million with book to bill ratio of 127%. Chemring's order book as at the end of February is up at GBP481 million from GBP478 million the prior year, with further delivery order of USD53 million under Husky Mounted Detection System contract.
Also receives first delivery order under contract for manufacture of M206 and MJU-7A/B infrared decoy flares for the US Army, which is valued at USD29 million.
Looking ahead, continues expansion into Tennessee facility to meet expected demand for F-35 countermeasures. Expects revenue generation to start from facility during the second half of Chemring's 2022 financial year.
Current stock price: 276.50 pence
Year-to-date change: down 3.2%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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