Business
FULL YEAR RESULTS
FULL YEAR RESULTS.
About this update from Chemring Group Plc
[{"type":"text","content":"\n \nRNS Number : 1971C Chemring Group PLC 18 January 2018 \n\n \n \n18 JANUARY 2018\n \nCHEMRING GROUP PLC\n \nRESULTS FOR THE YEAR ENDED 31 OCTOBER 2017\n \n\n\n\n\n \n\n\nAs reported\n\n\nAt 2016 exchange rates\n\n\n \n\n\n\n\n \n\n\nChange\n\n\n2017#\n\n\nChange\n\n\n2017\n\n\n2016\n\n\n\n\nContinuing operations\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nRevenue\n\n\n+ 15%\n\n\n£547.5m\n\n\n+ 11%\n\n\n£528.0m\n\n\n£477.1m\n\n\n\n\nUnderlying EBITDA*\n\n\n+ 10%\n\n\n£81.0m\n\n\n+ 9%\n\n\n£80.7m\n\n\n£73.8m\n\n\n\n\nUnderlying operating profit*\n\n\n+ 14%\n\n\n£55.4m\n\n\n+ 13%\n\n\n£55.0m\n\n\n£48.5m\n\n\n\n\nUnderlying profit before tax*\n\n\n+ 30%\n\n\n£44.1m\n\n\n+ 30%\n\n\n£44.1m\n\n\n£34.0m\n\n\n\n\nStatutory profit before tax\n\n\n- 50%\n\n\n£4.0m\n\n\n \n\n\n \n\n\n£8.0m\n\n\n\n\nUnderlying earnings per share*\n\n\n+ 25%\n\n\n12.9p\n\n\n \n\n\n \n\n\n10.3p\n\n\n\n\nDividend per share\n\n\n+131%\n\n\n3.0p\n\n\n \n\n\n \n\n\n1.3p\n\n\n\n\nNet debt\n\n\n- 9%\n\n\n£80.0m\n\n\n \n\n\n \n\n\n£87.6m\n\n\n\n\n \n \nHighlights\n \n· Safety, operational and financial performance improvements continue\n \n· Operating profit* growth of 14% to £55.4m, and EPS* increase of 25% to 12.9p\n \n· Continued progress on US counter-IED, Chemical and Biological Detection Programs of Record \n \n· Operational Excellence Programme delivering further improvements in safety, knowledge sharing, gross margins and cash generation\n \n· Net debt of £80m reflected solid cash generation across the Group, offset by the investment in working capital in the Energetics segment and the normalisation of supplier payment practices\n \n· Board recommending a final dividend of 2.0p per ordinary share, giving a total dividend of 3.0p per ordinary share (2016: 1.3p)\n \n· Order book at year end of £478m (2016: £593m), fall partly due to FX and fulfilment of large 40mm contracts in Energetics segment. £360m currently due as revenue in FY18, 70% coverage of FY18 ...