LONDON (dpa-AFX) - Chemring Group Plc. (CHG.L) reported that its profit after tax for the year ended 31 October 2023 dropped to 5.4 million pounds or 1.9 pence per share from 47.4 million pounds or 16.4 pence per share in the previous year.
Profit before tax was 44.1 million pounds down from 47.9 million pounds in the previous year.
Underlying earnings per share from continuing operations was 20.0 pence compared to 18.5 pence last year.
Annual revenue rose 18% to 472.6 million pounds from last year reflecting significant growth in Roke and improved operational execution delivering strong output in niche Energetics businesses.
On a constant currency basis, the Group's revenue grew 19% to 477.7 million pounds from the previous year.
The Board recommended a final dividend in respect of the year ended 31 October 2023 of 4.6 pence per share compared to 3.8 pence per share in the prior year. If approved, the final dividend will be paid on 12 April 2024 to shareholders on the register on 22 March 2024.
Trading since the start of the current financial year has been in line with expectations. The Board's expectations for the Group's 2024 performance are unchanged.
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