Business
Post Close Statement and Contract Win
Post Close Statement and Contract Win.
About this update from Chemring Group Plc
[{"type":"text","content":"\n \nRNS Number : 5788Y Chemring Group PLC 10 May 2019 \n\n10 May 2019 \nCHEMRING GROUP PLC (\"Chemring\", the \"Group\" or the \"Company\")\nPost Close Statement and Contract Win\nChemring issues the following update having entered its close period in respect of the six months ended 30 April 2019. \nOutlook\nThe 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%).\nContract win\nChemring 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.\nInterim results date \nThe Group will report its interim results for the six months ended 30 April 2019 on 5 June 2019. \n- ENDS -\nFor further information:\n\n\n\n\nRupert Pittman\n\n\nGroup Director of Corporate Affairs, Chemring Group PLC\n\n\n+44 (0)1794 833901\n\n\n\n\nAndrew Jaques\nPeter Hewer\n\n\nMHP Communications\n\n\n+44 (0)20 3128 8100\n\n\n\n\n \n Cautionary statement \nThis 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 ...