Chemring Group HY Profit Down

Source: FinanzNachrichten.de

LONDON (dpa-AFX) - Chemring Group PLC (CHG.L) reported that its profit for the half year ended 30 April 2024 declined to 16.4 million pounds or 5.8 pence per share from 18.7 million pounds or 6.5 pence per share in the prior year.

Underlying earnings per share was 6.6 pence compared to 7.4 pence in the prior year.

Profit before tax was 15.2 million pounds down from 22.1 million pounds in the previous year.

But revenue for the period rose 8% to 223.4 million pounds from last year's 206.3 million pounds, driven by strong performance at Roke, up 19%, and growth in specialist energetic materials businesses offset by a weaker period for Countermeasures.

The Board has declared an interim dividend in respect of the 2024 financial year of 2.6 pence per ordinary share which will be paid on 6 September 2024 to shareholders on the register on 16 August 2024. This compared to 2.3 pence per share paid last year.

The Board's full year expectations are unchanged, supported by order coverage at 30 April 2024 of 93% of expected the second-half revenue, with a heavier the second-half weighting of operating profit as previously communicated in February 2024.

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