LONDON (dpa-AFX) - Chemring Group PLC (CHG.L), a technology solutions provider for defense industry, Friday said it expects outturn for the full year to be in-line with the outlook of Board and analysts.
According to the company, consensus estimate of analysts for adjusted operating profit for the full year stands at 67 million pounds.
The company also announced its decision to invest about 30 million pounds more to increase the capacity of Chemring Nobel on seeing high demand for energetic materials. In June, the company had announced 90 million pounds expansion plan across its three Energetics businesses. Chemring expects the total investment of about 120 million pounds over next three years to increase revenue by 85 million pounds and operating profit by 21 million pounds.
The company said it conducted strategic review of its US sensors business. This follows US Army's decision to reduce production of Husky Mounted Detection System and the company's decision not to continue with its Aerosol and Vapor Chemical Agent Detector (AVCAD) program.
Full-year results are scheduled to be reported on December 12.
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