Boom time: Chemring said orders hit £756m in the year to the end of October
Chemring reported booming demand yesterday, as it cashed in on global instability.
The defence group, which makes materials and components for missile systems, explosives and propellants, said orders hit £756million in the year to the end of October.
This was up 40 per cent on the previous year. And the order book is at its highest level in over a decade at £922million, the company said.
The group saw annual revenues rise 18 per cent to £472.6million while profits climbed 16 per cent to £69million.
It also announced it would be hiking its total dividend by over a fifth. Babcock will hand out 6.9p per share this year, a rise of 21 per cent.
