Recent Sector News

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  Directors capitalise at premium rated Rolls Royce

  The magnitude of the rally has put Rolls Royce on a forward PE of over 18x earnings, the most expensive in its peer group and almost 70% higher than the sector average

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  Rolls Royce: Engines to stall at Rolls Royce?

  Chief Executive, Sir John Rose was also extremely uncertain of the company’s outlook and commented that the global trading environment remains very difficult,

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  Rolls-Royce invests heavily in five new facilities and two research programmes

  Turbines and aircraft engines maker Rolls-Royce PLC (LSE: RR) has announced plans to invest in five new factories , four in the UK and one in Singapore, as well as in two advanced research programmes in the UK, enabling it to respond to anticipated growth in its aerospace and civil nuclear markets.

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  Chemring Group: solid, well managed and plenty of growth potential

  The market leading Chemring occupies two market segments of the defence sector: that of energetics (battlefield simulation, vehicle-mounted mine detection etc.) and that of countermeasures (flares, decoys etc).

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  Clouds set to clear at BAE Systems?

  BAE has had a number of big contract wins recently, with over £1 billion of new orders in the past two months. Revenue is expected to grow by 20% this year and earnings per share by 13%.
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  QinetiQ - One for the radar?

  QinetiQ has pursued a strategy of expansion in the US, which is the world’s biggest spender on defence, with 47% of its revenue generated in the US during the fiscal year.
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  Possible re-rating at VT Group?

  …Traditionally support services companies are afforded a higher rating than aerospace and defence companies as they tend have higher growth rates.
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  Chemring offers a rare combination of defensive growth

  Chemring has two primary divisions: countermeasures and energetics. On first pass, it would be easy to assume that neither of these areas offer particularly exciting growth prospects - you would be wrong.
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  Chemring Delivers the goods again.

  From strength to strength sums up best the progress of Chemring group over the past twelve months. Chemring has essentially two businesses ? Energetics and Countermeasures. Chemring is the world?s leading producer of countermeasures for air, sea and land platforms against guided missiles and also produces flares, chaff, naval decoys and special materials. The other side of the business,
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  Croma Group plc: details first of two ongoing plans

  No doubt investors will be hoping that Croma?s bolt on acquisitions will eventually lead to a strong order book and healthy revenues, ,and despite Croma?s lacklustre share price performance, the company has been continually upbeat about it?s prospects in the industry. Hopefully Croma is building a long term and sustainable business and won?t fall into the common mistake of taking on more than it can chew.