StockMarketWire.com - Chemring expects its trading performance for the year ended 31 Oct to be slightly ahead of the board's forecasts.

The group said strong delivery performance in the final quarter had led to full year revenue of £547m, an increase of 15% on the prior year (2016: £477m). The group said its order book at 31 Oct was £478m (2016: £593m).

It said the decline in the order book principally reflected the conclusion of the 40mm ammunition contract to a customer in the Middle East, awarded in 2016, as well as a currency headwind of £33m experienced this year.

It said a number of significant orders were received by both its US and UK Countermeasures businesses in the second half of the year, giving increased confidence in the group's prospects in the near term.




At 9:32am: [LON:CHG] Chemring Group PLC share price was +2.75p at 166.25p



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