Chemring Group (CHG)

Sector:

Defense and Aeronautics

Index:

FTSE 250

363.00p
   
  • Change Today:
      3.50p
  • 52 Week High: 365.50
  • 52 Week Low: 255.50
  • Currency: UK Pounds
  • Shares Issued: 272.85m
  • Volume: 1,130,699
  • Market Cap: £990.46m
  • RiskGrade: 157

Chemring posts rise in interim profits, announces Cubica acquisition

By Michele Maatouk

Date: Thursday 03 Jun 2021

LONDON (ShareCast) - (Sharecast News) - Chemring posted a rise in interm profit and revenue on Thursday as it announced the acquisition of Cubica Group, a Surrey-based research and development company specialising in artificial intelligence, machine learning, data fusion and autonomy.
In the six months to 30 April, underlying pre-tax profit increased 12% to £27.2m on revenue of £198.5m, up 4% on the same period a year ago. The company declared an interim dividend per share of 1.6p, up 23%.

Chemring said the results were in line with its expectations, "reflecting continued strong performance in both segments, despite FX translation headwind caused by the weakening US dollar".

The company highlighted double-digit growth in orders, revenue and operating profit for its Roke business, as the market remains "buoyant", underpinned by the UK government's increased focus on cyber and electromagnetic activities, digital infrastructure and science and technology. Roke provides technology, engineering and advisory services to Government and high-value engineering companies.

Chief executive Michael Ord said: "Chemring's positive first half performance again demonstrates the progress that we continue to make in building a higher quality technology-based group. With strong order cover for the full year the group remains on track to deliver year-on-year growth, and the board's expectations for the full year remain unchanged.

"Whilst our modernisation and operational excellence programmes will continue, our focus is now shifting towards the growth of our Sensors & Information segment, where our market leading positions and investment in high technology niches positions us well in this area of growing customer requirement."

Chemring also announced the acquisition of Cubica Group for an undisclosed sum. It said the deal creates further opportunities for the company to enhance and accelerate growth in its Roke business.

"Roke's customers require an exponential increase in capability to achieve digital advantage against complex threats," it said. "Cubica's leading edge capability in Machine Augmented Intelligence and Autonomy complements Roke's existing capabilities in cyber security, intelligence and electronic warfare, offering customers a force multiplier for their missions."





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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Chemring Group Market Data

Currency UK Pounds
Share Price 363.00p
Change Today 3.50p
% Change 0.97 %
52 Week High 365.50
52 Week Low 255.50
Volume 1,130,699
Shares Issued 272.85m
Market Cap £990.46m
RiskGrade 157

Chemring Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
91.93% below the market average91.93% below the market average91.93% below the market average91.93% below the market average91.93% below the market average
Sector averageSector averageSector averageSector averageSector average
Price Trend
86.06% above the market average86.06% above the market average86.06% above the market average86.06% above the market average86.06% above the market average
27.27% below the sector average27.27% below the sector average27.27% below the sector average27.27% below the sector average27.27% below the sector average
Income
65.95% below the market average65.95% below the market average65.95% below the market average65.95% below the market average65.95% below the market average
25.00% above the sector average25.00% above the sector average25.00% above the sector average25.00% above the sector average25.00% above the sector average
Growth
48.12% below the market average48.12% below the market average48.12% below the market average48.12% below the market average48.12% below the market average
60% below the sector average60% below the sector average60% below the sector average60% below the sector average60% below the sector average

What The Brokers Say

Strong Buy 5
Buy 1
Neutral 0
Sell 1
Strong Sell 0
Total 7
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Chemring Group Dividends

  Latest Previous
  Final Interim
Ex-Div 21-Mar-24 17-Aug-23
Paid 12-Apr-24 08-Sep-23
Amount 4.60p 2.30p

Trades for 28-Mar-2024

Time Volume / Share Price
16:35 120,129 @ 363.00p
16:35 1,005 @ 363.00p
16:35 1,524 @ 363.00p
16:35 124 @ 363.00p
16:35 1,121 @ 363.00p

Chemring Group Key Personnel

CFO James Mortensen

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