Chemring profits rise, holds guidance

UK defence firm Chemring Group on Tuesday reported a rise in annual pre-tax profit as it maintained guidance for the current year.

The company posted pre-tax profit for the year to October 31 of £51.8m compared with £48.8m a year earlier. Revenue rose13% to £442.8m.

Chemring said around 86% of fiscal 2023's expected revenue was covered by its order book, valued at £651m, with around £403m scheduled for delivery during 2023.

The board declared a final dividend of 3.8p a share, bringing the annual payout to 5.7p a share, up from 4.8p.

Reporting by Frank Prenesti for Sharecast.com