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Chemring YTD order book hits £1.3bn following 'significant orders'
(Sharecast News) - Defence technology group Chemring said on Wednesday that its FY25 trading performance looked set to be in line with expectations, with its order book significantly stronger year-to-date. Chemring said its order book was £1.35bn as of 30 January, up from £991.0m at the same time a year ago, with Q1 order intake hitting £393.0m thanks to "significant orders" across both sectors.
The FTSE 250-listed group said FY25 revenues were expected to be 81% covered by Q1 revenues and its current order book.
"The current financial year continues to plan and our outlook remains in line with market expectations. Our order book is at a record level and order intake across both sectors benefitted from the receipt of several significant orders, demonstrating continued customer demand and confidence in Chemring's market-leading products and services," said chief executive Michael Ord. "The group is increasingly well positioned, with a strong and sustainable platform for future growth."
Chemring also announced that it will commence a share buy-back programme for up to £40.0m as it looks to reduce its share capital.
As of 0900 GMT, Chemring shares were up 3.75% at 387.50p.
Reporting by Iain Gilbert at Sharecast.com
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