Chemring reiterates full-year guidance, as revenue surges

14th Sep 2015 08:34

(ShareCast News) - Protection solutions provider Chemring reiterated full-year expectations after reporting a sharp rise in revenue.The London-listed company said revenue in the four months to 31 August rose 24% year-on-year to £119m, while the order book value increased 18% to £502.8m, thanks to ammunition orders from the Middle East worth over £100m.The group said the performance had continued to improve throughout the year, with delivery levels meeting expectations in the first four months.However, Chemring said the order for the supply of 3D-radar detection equipment into the Middle East has been delayed until next year, while negotiations on the Husky Mounted Detection System it expects to deliver to customers in the region remained on track.Chemring shares were up 3.24% to 222.75p at 0850 BST on Monday.