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Industry

Chemring benefitting from US market successes

04 March 2020
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Chemring has received an uptick in orders year-on-year in the four-month period ending February this year due in part to the strength of its key US market.

Order intake was GBP132 million (USD169.3 million), up on the GBP120 million reported over the same period in 2019, while the orderbook for Chemring stood at GBP278 million at the end of February, a GBP57 million year-on-year increase.

In the trading update issued on 4 March, Chemring said that the company is making good progress in implementing a strategy that has resulted in the divestiture of several business lines and a focus on managing the fallout of a fatal explosion at a UK-based facility, noting that 88% of revenues for fiscal year (FY) 2020 have been covered.

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