Chemring Group PLC Trading Statement (0393Q)
01 11월 2012 - 4:00PM
UK Regulatory
TIDMCHG
RNS Number : 0393Q
Chemring Group PLC
01 November 2012
FOR IMMEDIATE RELEASE 1 November 2012
CHEMRING GROUP PLC
Trading Statement
Chemring Group PLC ("Chemring" or "the Group") today provides a
statement on current trading at the closing of its financial year
ended 31 October 2012.
While the financial year has just closed and full year results
are not yet known, three issues have been identified that will
reduce our expected profits and earnings per share for the full
year. These are:
-- A contract for the supply of vehicle based mortar systems for
a Middle Eastern customer. Delays in the granting of export
licences for a limited number of parts are unlikely to be resolved
in the near term and will continue into our new financial year.
-- Our expectations assumed the receipt of a multi-year contract
for the supply of aircraft countermeasures to a customer in the
Middle East. Despite extensive negotiations with the prime
contractor the order is now expected to be placed in our new
financial year.
-- Technical problems on the development of a countermeasure
have resulted in this product not being accepted by the customer
until further acceptance tests have successfully taken place.
As a result of these three issues, the Group has reduced its
expectations for its earnings per share for the financial year
ended 31 October 2012 by 13 pence.
The Group will provide a further update on trading in due
course, and the Group's preliminary results are expected to be
announced on 24 January 2012.
-ENDS-
For further information:
Chemring Group
Rupert Pittman Director of Communications and Investor Relations
01489 881 880 / rupertp@chemring.co.uk
MHP Communications
Andrew Jaques / James White
0203 128 8100
This information is provided by RNS
The company news service from the London Stock Exchange
END
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