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Chemring maintains expectations as order book continues to grow

By BFN News | 07:57 AM | Wednesday 04 March, 2020


Defence contractor Chemring left its expectations unchanged amid a rise in order intakes for the year so far. Order intake in the period to 29 February 2020 rose to £132m, up from £120m, with a book to bill ratio of 125%, down from 154%. The Covid-19 outbreak was not currently having any material impact on the company's businesses or their supply chains. However, it said it was monitoring the situation closely. Expected 2020 revenue was now 88% covered by period-to-date revenue and the order book, split 92% in countermeasures & energetics and 80% in sensors & information. The order book for continuing operations stood at £478m at 29 February, up from £421m last year. Story provided by StockMarketWire.com

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