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Prices & Quotes - UK Markets - Chemring Group (CHG)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 294.50p
Change Today:
1.50p
Market Cap:
833.15m
Sector:
Aerospace and Defence

Chemring sees FY profit at top end of market expectations

By Michele Maatouk

Date: Tuesday 03 Nov 2020

LONDON (ShareCast) - (Sharecast News) - Chemring said on Tuesday that annual operating profit is set to be at the top end of market expectations after trading for the year to the end of October 2020 ended "robustly".
Adjusted annual profit will be at the top end of forecasts of between 47m and 53m, with continued positive momentum across the group, it said.

In the final month of its financial year, subsidiary Chemring Countermeasures UK was awarded contracts worth 25.8m from the UK Ministry of Defence to develop and supply naval countermeasures in support of the Royal Navy. It also received a 5.5m contract from the MoD to manufacture air countermeasures in support of the UK armed forces.

"The continued focus on the management of working capital, cash generation and the reduction of intra-period net debt volatility has delivered positive results," Chemring said.

Net debt at year-end is now expected to be around 48m, which includes 6.5m in respect of the first time adoption of IFRS16, driven by operating cash conversion of 110% of EBITDA, together with lower finance and tax payments.

Chemring said the closing order book of 476m, versus 449m in 2019, gives "excellent visibility" of FY21 revenue in both segments.

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Chemring Group Market Data

Currency UK Pounds
Price 294.50p
Change Today 1.50p
52 Week High 324.00p
52 Week Low 228.00p
Volume 231,099
Shares Issued 282.90m
Market Cap 833.15m

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What The Brokers Say

Strong Buy 7
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 7
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Chemring Group Dividends

  Latest Previous
  Interim Final
Ex-Div 19-Aug-21 01-Apr-21
Paid 10-Sep-21 23-Apr-21
Amount 1.60p 2.60p

Trades for 11-Jun-2021

Time Volume / Share Price
16:45 30 @ 292.50p
16:45 30 @ 292.50p
16:37 33,718 @ 294.50p
16:35 100,707 @ 294.50p
16:29 248 @ 293.50p

Chemring Group Key Personnel

Chair Carl-Peter Forster