Information  X 
Enter a valid email address

Chemring swings to profit led by 'strong' growth in sensors & information division

By BFN News | 07:14 AM | Monday 16 December, 2019


Defence contractor group Chemring swung to an annual profit on slightly better-than-expected performance, led by a 'strong' showing from its sensors & information division. For the year ended 31 October, the company reported a pre-tax profit of £26.7m, compared with a loss of £22m on-year. Revenue rose 12.7% to £335.2m. Revenue for sensors & information increased b51% to £131.9m. The company's order book as of 31 October stood at £449m, of which £287m was currently expected to be recognised as revenue in 2020. Chemring declared a final dividend of 2.4p per ordinary share, taking the total dividend to 3.6p a share for the year, up 9%. Trading since the start of the current financial year had been in line with expectations across all businesses and the board's expectations for the group's 2020 performance remained unchanged, Chemring said. Story provided by StockMarketWire.com

a d v e r t i s e m e n t