CMGMY
Chemring Group PLC·Industrials
7.51
2.532%(−0.20)
Market ClosedLast Updated: — ET
52W L: $5.0152W H: $8.50
CMGMY NEWS
proactiveinvestors.co.uk
Feb 20
Chemring shares fall 5% on back-end loaded outlook and US production setbacks
Chemring Group (LSE:CHG) shares fell 5% to 495p after the defence technology group flagged a slower-than-expected start to its financial year, driven by manufacturing problems at a US facility, and warned that rising capital expenditure would push debt higher. The group's Kilgore Flares plant in Tennessee, which operates a fully automated countermeasures production line, experienced operational difficulties that are now largely resolved.
proactiveinvestors.co.uk
Feb 20
Chemring says full-year outlook on track despite slow start and US production disruption
Chemring Group (LSE:CHG), the defence and security technology group, has told shareholders its full-year outlook remains unchanged, despite a slower-than-expected start to the financial year caused by operational disruption at one of its US manufacturing sites. The group said countermeasures production had been disrupted at Kilgore Flares, its fully automated facility in Tennessee, though the problems were now largely resolved.
