September 4, 2018 / 6:35 AM / 15 days ago

Chemring says profit hit from factory blast in middle of 10-20 mln pound range

Sept 4 (Reuters) - Defence contractor Chemring Group Plc on Tuesday adjusted its guidance for the impact of an explosion at a UK factory last month on full-year underlying operating profit to “around the middle” of an earlier estimate of 10-20 million pounds.

It said it was still investigating with regulators the explosion at the Chemring Countermeasures (CCM) factory near Salisbury in Wiltshire, which makes products to protect military ships and aircraft from missiles.

One man was killed and another remains in hospital by the explosion on Aug. 10.

The company said except for the impact of the incident, trading remained in line with its expectations for the four month period that ended in August 31. (Reporting by Muvija M in Bengaluru)

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