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Chemring Group PLC on Tuesday reported a sharp rise in interim profit and a record order book, while also announcing the appointment of Pete Raby, current CEO of FTSE 250-listed firm Morgan Advanced Materials PLC, as a new independent non-executive director. Chemring is a Hampshire, England-based provider of technology products and services to aerospace, defence and security markets For the six months ended April 30, pretax profit surged 74% to £26.5 million from £15.2 million a year earlier. Revenue rose 4.9% to £234.3 million from £223.4 million, driven by strong growth in its Countermeasures & Energetics division, where sales jumped 20%. Chemring declared an interim dividend of 2.7 pence per share, up 3.8% from 2.6p a year earlier. For financial 2024, the company paid a total dividend of 7.8p, including a final dividend of 5.2p. The group said it booked a record first-half order intake of £488 million, pushing its order book to a new high of £1.30 billion. This provides ‘excellent medium-term revenue coverage’ and increases visibility for the current financial year, with around 85% of expected 2025 revenue already secured or delivered. ‘Our 2024 momentum has continued into this year with another period of record order intake,’ Chief Executive Michael Ord said. ‘The board’s expectations for the full year are unchanged.’ Chemring is targeting annual revenue of £1 billion by 2030, underpinned by rising global defence spending, particularly among NATO members. Net debt rose to £93.3 million from £75.3 million a year ago, reflecting increased capital expenditure on growth projects, which totalled £46.1 million during the period. Alongside its financial results, Chemring said Pete Raby will join the board as a non-executive director on September 1. Raby is due to retire from his role as chief executive officer at Morgan Advanced Materials on July 1, a Windsor, England-based manufacturer of carbon and ceramic materials. Shares in Chemring opened up 2.2% at 497.00 pence in London on Tuesday. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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