Business
POST-CLOSE STATEMENT
POST-CLOSE STATEMENT.
About this update from Chemring Group Plc
[{"type":"text","content":"\n \nRNS Number : 3823W Chemring Group PLC 14 November 2017 \n\nFOR IMMEDIATE RELEASE 14 NOVEMBER 2017\n \nCHEMRING GROUP PLC\n \nPOST-CLOSE STATEMENT\n \nChemring Group PLC (\"Chemring\" or \"the Group\") today provides its post-close statement in respect of the year ended 31 October 2017.\n \nFY17 trading\n \nThe Group's trading performance for the year to 31 October 2017 (\"FY17\") is expected to be slightly ahead of the Board's expectations. \n \nStrong delivery performance in the final quarter of FY17 has led to full year revenue of £547m, an increase of 15% on the prior year (2016: £477m).\n \nThe Group's order book at 31 October 2017 was £478m (2016: £593m). The decline in the order book principally reflects the conclusion of the 40mm ammunition contract to a customer in the Middle East, awarded in 2016, as well as a currency headwind of £33m experienced this year. A number of significant orders were received by both our US and UK Countermeasures businesses in the second half of the year, giving increased confidence in the Group's prospects in the near term.\n \nFinancial position\n \nAt 31 October 2017, net debt was £80.0m (2016: £87.6m). \n \nOf the Group's £114.3m outstanding US private placement loan notes, £51.3m was repaid yesterday, 13 November 2017, from existing bank debt facilities and cash resources. The remaining loan notes are scheduled to be repaid in November 2019 (£63.0m).\n \nThe Group's FY17 results are scheduled to be announced on 18 January 2018.\n \n-ENDS-\n \nFor further information:\n \nRupert Pittman Group Director of Corporate Affairs, 01794 833...