LONDON (dpa-AFX) - Chemring Group Plc (CHG.L), a technology products company, on Tuesday reported a rise in pre-tax income for the full year, helped by an increase in revenue, reflecting a significant growth in Roke and specialist energetic materials businesses.
For the 12-month period to October 31, the company recorded a pre-tax income of 53.3 million pounds, higher than 44.1 million pounds, posted for previous year.
Underlying profit before tax slipped to 66.3 million pounds from last year's 67.9 million pounds.
Net profit surged to 39.5 million pounds or 14.2 pence per share from 5.4 million pounds or 1.9 pence per share a year ago.
Net profit after tax from continuing operations stood at 42.7 million pounds or 15.3 pence per share as against prior year's 37.7 million pounds or 13.1 pence per share.
Loss after tax from discontinued operations narrowed to 3.2 million pounds from a loss of 32.3 million pounds in 2023.
Operating income increased to 58.1 million pounds from prior year's 45.4 million pounds.
Revenue was 510.4 million pounds, up from previous year's 472.6 million pounds. This revenue growth of 8 percent was driven by strong performance at Roke, up 17 percent, and growth in the company's specialist energetic materials businesses, up 12 percent.
The Board will pay a final dividend of 5.2 pence per share, bringing the total dividend for the year to 7.8 pence per share, higher than last year's 6.9 pence per share. The final dividend will be paid on April 11, 2025 to shareholders on the register as of March 21, 2025.
Looking ahead, the Group, said: 'Trading since the start of the current financial year is running to plan. The Board's expectations for the Group's 2025 performance remains in line with market expectations, with a similar weighting towards the second half.'
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