June 3, 2020 / 6:33 AM / a month ago

Chemring Group backs annual outlook as half-year profit jumps

June 3 (Reuters) - British defence contractor Chemring Group on Wednesday stood by its annual targets and raised its dividend as it posted a jump in half-year profit, managing to win new orders from the United States despite the coronavirus crisis.

Chemring said its order book was strong and about 95% of the expected revenue for the second-half of the year has been delivered to date, after its underlying profit before tax rose to 24.2 million pounds ($30.45 million) in the six months to April 30, from 9.9 million pounds a year earlier. ($1 = 0.7948 pounds) (Reporting by Shanima A in Bengaluru; Editing by Vinay Dwivedi)

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