StockMarketWire.com - Defence contractor Chemring said its order book had risen in value, providing visibility for the rest of the year and instilling confidence that its results will meet analysts' expectations.

In a trading update for the year through October, the company said its order book at 31 August was worth £464 million, up from £450 million at the end of April.

'Trading in the period has progressed as planned despite the challenging environment in which we continue to operate,' Chemring said.

The outturn for the year was expected to be in line with current analyst expectations that ranged between £56.0 million and £59.6 million, with a consensus of £57.5 million.

Chemring added that order cover for the 2022 financial year was building.

Countermeasures and energetics had 67% order cover of expected revenue and the shorter cycle sensors and information sector had 45% cover.


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