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Chemring Group PLC (CHG.L)

CHG.L on London Stock Exchange

179.50GBp
20 Sep 2017
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Latest Key Developments (Source: Significant Developments)

Chemring says expectations for year to Oct.31 unchanged
Tuesday, 5 Sep 2017 02:00am EDT 

Sept 5 (Reuters) - Chemring Group Plc :TRADING UPDATE FOR FOUR MONTH PERIOD FROM 1 MAY TO 31 AUGUST 2017.REVENUE IN 4 MONTH PERIOD WAS £156.7 MILLION, AN INCREASE OF 13.4% COMPARED WITH £138.2 MILLION IN SAME PERIOD LAST YEAR.TRADING IN PERIOD HAS PROGRESSED AS PLANNED AND BOARD'S CURRENT EXPECTATIONS FOR YEAR ENDING 31 OCTOBER 2017 REMAIN UNCHANGED.GROUP'S ORDER BOOK AT 31 AUGUST 2017 WAS £541.8 MILLION, 2.6% LOWER THAN ORDER BOOK OF £556.2 MILLION AT 30 APRIL 2017.RECENT ORDERS RECEIVED, FOR DELIVERY IN FY18, GIVE US INCREASED CONFIDENCE IN GROUP'S PROSPECTS IN NEAR TERM..PERIOD HAS SEEN A PARTICULARLY STRONG PERFORMANCE FROM COUNTERMEASURES SEGMEN.NET DEBT AT 31 AUGUST 2017 WAS £125.8 MILLION (30 APRIL 2017: £111.7 MILLION).AS EXPECTED, FORECAST PHASING OF TRADING IN FY17 RESULTS IN A WEIGHTING OF OPERATING CASH GENERATION TO Q4.IS CURRENTLY AWAITING RECEIPT OF CASH ADVANCE PAYMENT AND ASSOCIATED EXPORT LICENCES, WHICH ARE EXPECTED SHORTLY.  Full Article

Chemring awarded $28 mln contract
Monday, 31 Jul 2017 02:00am EDT 

July 31 (Reuters) - CHEMRING GROUP PLC ::CHEMRING GROUP PLC - CONTRACT AWARD.AWARDED A US$28 MILLION CONTRACT BY US ARMY GARRISON AT ROCK ISLAND ARSENAL.DELIVERIES AGAINST THIS CONTRACT WILL BE MADE IN FY17 AND FY18.  Full Article

Chemring sees modest growth in global defence spending in coming years
Thursday, 22 Jun 2017 02:00am EDT 

June 22 (Reuters) - Chemring Group Plc :H1 revenue 249.6 million stg.Interim dividend 1 penceper share.Has had a solid first half year, in line with expectations, continuing performance of second half of last year.H1 revenue increased by 38.6 pct to 249.6 mln stg (H1 2016: 180.1 mln stg, 2016: 477.1 mln stg) and underlying operating profit was 17.2 mln stg (H1 2016: 3.8 mln stg, 2016: 48.5 mln stg).First half saw a good performance from energetics segment, driven by continued consistency of operational performance across segment.Order book at 30 April 2017 was 556.2 mln stg (H1 2016: 591.3 mln stg, 2016: 592.9 mln stg), of which approximately 260 mln stg is scheduled for delivery during H2 FY2017.Outlook for global defence spending is therefore expected to be one of modest growth in coming years.Outlook for U.S. spending is positive.New U.S. Administration looks to significantly modernise and invest in defence capabilities; signalling a 4-5 pct increase in expenditure over coming years.Also declared an interim dividend in respect of 2017 of 1.0p per ordinary share, which will be paid on 15 September 2017.  Full Article

Chemring Group says FY trading expectations remain unchanged
Friday, 17 Mar 2017 03:00am EDT 

Chemring Group Plc : Order intake in first four months of year was in line with board's expectations at £127.4m . Revenue during four month period to 26 february 2017 was £145.6m .Expectations for trading for full year remain unchanged.  Full Article

Chemring wins a contract from the U.S. Army
Monday, 13 Feb 2017 02:11am EST 

Chemring Group Plc : Contract award . Has received a contract from U.S. Army for ten ground penetrating radar trial systems .Evaluation of this new capability, if successful, could lead to upgrades of U.S. Army HMDS inventory.  Full Article

Chemring sticks by expectations for the current full year
Thursday, 19 Jan 2017 02:00am EST 

Chemring Group Plc : FY underlying pretax profit from continuing operations rose 71.7 percent to 34 million stg . FY revenue from continuing operations 477.1 million stg versus 377.3 million stg year ago . Total dividend 1.3 pence per share . Operational and financial performance improved in h2 with strong 40mm volumes and favourable currency impact . Net debt reduced to 87.6 million stg; net debt to EBITDA at 1.15x . Order book at year end of 592.9 million stg (2015: 569.6 million stg), of which 368.0 million stg is currently expected to be recognised as revenue in FY17 . Board recommending a final dividend of 1.3p per share (2015: nil) . Board's expectations for FY17 are unchanged, based on current FX rates . Trading since start of FY17 has been in line with expectations across all businesses .Continues to expect FY17 to reflect a significant second-half weighting in profitability.  Full Article

Chemring Group says order book boosted by weak sterling
Monday, 21 Nov 2016 02:19am EST 

Chemring Group Plc : Board expects group's trading performance for year to 31 October 2016 ("FY16") to be in line with market expectations . Revenue in final quarter of FY 16 was approximately 188.0 million stg, an increase of 50.6 pct . Revenue for FY16 was approximately 477.0 million stg (2015: 377.3 million stg); on a constant currency basis this figure would have been approximately 440.0 million stg. . Group's order book at 31 October 2016 was approximately 593.0 million stg (2015: £569.6 million) . Weakening of sterling, principally against US dollar, accounts for approximately 103.0 million stg of growth in order book . On a constant currency basis, order book declined year on year against a strong prior year period which contained all of 40mm ammunition contract. .At 31 October 2016, net debt was approximately 88.0 million stg (2015: 154.3 million stg).  Full Article

Chemring wins A$18 mln contract from Australian department of defence
Thursday, 29 Sep 2016 05:53am EDT 

Chemring Group Plc : Contract win . Chemring australia has been awarded an a$18 million contract by Australian department of defence . Up to 50 man-portable systems will be delivered during first 18 months of contract .Contract to supply chemring's resolve 3 electronic warfare manpack system.  Full Article

Chemring FY trading expectations remain unchanged
Wednesday, 31 Aug 2016 02:40am EDT 

Chemring Group Plc : Expectations for FY16 full year trading remain unchanged . Revenue in three month period to 31 July 2016 was £109.1 million, an increase of 20.2 pct compared with £90.8 million in same period last year . Group's order book at 31 July 2016 was £665.9 million, 12.6 pct higher than order book of £591.3 million at 30 April 2016 . Net debt at 31 July 2016 was £147.0 million (30 April 2016: £114.4 million) . Recent weakening of sterling, principally against us dollar, accounts for £50.5 million of growth in order book . Trading on 40mm ammunition contract to an end user in Middle East is progressing in line with our expectations . Received a $3.1 million research and development contract for US next generation chemical detection program of record . Order book at 31 July 2016 was £665.9 million, 12.6 pct higher than order book of £591.3 million at 30 April 2016 . Recent weakening of sterling, principally against US dollar, accounts for £50.5 million of growth in order book . Net debt at 31 July 2016 was £147.0 million (30 April 2016: £114.4 million) .Has now been agreed that Steve will leave group on 30 Sept 2016 and his role will be covered on an interim basis by Andrew Davies, deputy group finance director.  Full Article

Chemring Finance Director Steve Bowers to step down
Wednesday, 29 Jun 2016 02:43am EDT 

Chemring Group Plc : Steve Bowers, group finance director, has informed board of his intention to leave group to take up an appointment as chief financial officer of Herbert Smith Freehills. .Steve will remain with Chemring to effect an orderly transition..  Full Article

BRIEF-Chemring sees modest growth in global defence spending in coming years

* Has had a solid first half year, in line with expectations, continuing performance of second half of last year