LONDON (dpa-AFX) - Aerospace and defence business Chemring Group PLC (CHG.L) on Wednesday said that in the current financial year, both its sectors performed in line with expectations and that the Board's expectations for 2023 performance remain unchanged.
The company which operates through two segments viz Sensors & Information and Countermeasures & Energetics said the Group's trading performance and cash generation in 2023 is expected to weigh more towards the second half, given the order intake delays in 2022 as a result of the US Government's extended Continuing Resolution.
The company said that the order cover has increased to 90 percent in the period-to-date versus 89 percent in the prior year and 86 percent at the start of the financial year.
The order book on 26 February 2023 stood at 677 million pounds versus 476 million pounds on 25 February 2022.
The Group would report its interim results for the six months ended 30 April 2023 on 6 June 2023.
Shares of Chemring Group closed Tuesday's trading at 276 pence, up 0.50 pence or 0.18 percent from the previous close.
Copyright(c) 2023 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX