StockMarketWire.com - Defence company Chemring said its first-half profit surged, underpinned by 'strong' performance in its sensors & information segment.

For the six months to 30 April, pre-tax profit jumped to £19.0m from £4.3m on-year, as revenue rose 37% to £191.0m.

The company also attributed the growth to countermeasures facilities in Salisbury and Australia that remained operational amid the Covid-19 crisis.

It declared an interim dividend of 1.3p a share, up 8% on-year.

'Noting the challenges presented by the coronavirus pandemic, some positive timing differences which benefited the first half, and with approximately 95% of expected second-half revenue already in the order book or delivered to date, the board's expectations for the full year are unchanged,' Chemring said.

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