- Defence contractor Chemring Group issued a profit warning Monday after confirming one employee was fatally injured and another employee was badly injured on Aug. 10 in an incident at a flare manufacturing building at the Chemring countermeasures facility.

A full and immediate investigation into the cause of the incident had been launched in co-operation with the local regulatory authorities, the company said.

The incident caused damage to parts of Chemring countermeasures' manufacturing operations, halting production at the site.

'The Group's FY18 underlying operating profit is now likely to be approximately £10m - £20m lower than previous expectations, with a corresponding impact on the Group's operating cash flow and net debt,' Chemring Group said.

At 9:07am: [LON:CHG] Chemring Group PLC share price was -36.5p at 199.5p

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