Chemring Group PLC Post Close Statement and Contract Win (5788Y)
10 5월 2019 - 3:00PM
UK Regulatory
TIDMCHG
RNS Number : 5788Y
Chemring Group PLC
10 May 2019
10 May 2019
CHEMRING GROUP PLC ("Chemring", the "Group" or the
"Company")
Post Close Statement and Contract Win
Chemring issues the following update having entered its close
period in respect of the six months ended 30 April 2019.
Outlook
The Board's full year expectations for 2019 are unchanged. As a
result of insurance recoveries in respect of the incident at the UK
Countermeasures site which occurred in August 2018 being received
earlier than previously anticipated, the H1/H2 weighting of
continuing underlying operating profit for 2019 is now expected to
be approximately 30%:70% (previous guidance 15%:85%).
Contract win
Chemring is also pleased to announce that its Australian
subsidiary has been awarded two significant contracts: an
Undefinitised Contract Action with a Not To Exceed value of
US$60.4m and a further (Directed Sole Source) award for US$6.5m.
The contracts are from the US DoD to supply countermeasures to the
Royal Australian Air Force, US Navy and Foreign Military Sales in
support of the F-35 Joint Strike Fighter and other platforms. This
award follows a multi-year effort to establish Chemring Australia
as a qualified supplier for F-35 countermeasures.
Interim results date
The Group will report its interim results for the six months
ended 30 April 2019 on 5 June 2019.
- ENDS -
For further information:
Rupert Pittman Group Director of Corporate Affairs, Chemring Group PLC +44 (0)1794 833901
Andrew Jaques
Peter Hewer MHP Communications +44 (0)20 3128 8100
Cautionary statement
This announcement contains unaudited information based on
management accounts and forward-looking statements that are based
on current expectations or beliefs, as well as assumptions about
future events. These forward-looking statements can be identified
by the fact that they do not relate only to historical or current
facts. Forward-looking statements often use words such as
anticipate, target, expect, estimate, intend, plan, goal, believe,
will, may, should, would, could, is confident, or other words of
similar meaning. Undue reliance should not be placed on any such
statements because they speak only as at the date of this document
and, by their very nature, they are subject to known and unknown
risks and uncertainties and can be affected by other factors that
could cause actual results, and Chemring's plans and objectives, to
differ materially from those expressed or implied in the
forward-looking statements.
There are a number of factors which could cause actual results
to differ materially from those expressed or implied in
forward-looking statements. Among the factors that could cause
actual results to differ materially from those described in the
forward-looking statements are; increased competition, the loss of
or damage to one or more key customer relationships, changes to
customer ordering patterns, delays in obtaining customer approvals
for engineering or price level changes, the failure of one or more
key suppliers, the outcome of business or industry restructuring,
the outcome of any litigation, changes in economic conditions,
currency fluctuations, changes in interest and tax rates, changes
in raw material or energy market prices, changes in laws,
regulations or regulatory policies, developments in legal or public
policy doctrines, technological developments, the failure to retain
key management, or the key timing and success of future acquisition
opportunities or major investment projects.
Chemring undertakes no obligation to revise or update any
forward-looking statement contained within this announcement,
regardless of whether those statements are affected as a result of
new information, future events or otherwise, save as required by
law and regulations.
Notes to editors
-- Chemring is a global business that specialises in the
manufacture of high technology products and the provision of
services to the aerospace, defence and security markets
-- Employing approximately 2,500 people worldwide, and with
production facilities in four countries, Chemring meets the needs
of customers in more than fifty countries
-- Chemring is now organised under two strategic product
segments: Countermeasures & Energetics, and Sensors &
Information
-- Chemring has a diverse portfolio of products that deliver
high reliability solutions to protect people, platforms, missions
and information against constantly changing threats
-- Operating in niche markets and with strong investment in
research and development, Chemring has the agility to rapidly react
to urgent customer needs
www.chemring.co.uk
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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