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Chemring soars as first half beats expectations
The defence and security firm also announced an interim dividend of 1.3p, 8% higher than the prior year, alongside a triple-digit profit increase
Company
Chemring Group
LON:CHG
Chemring is the world’s leading producer of expendable decoy countermeasures for protecting air, sea and land platforms against guided missile threats.
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Chemring commits to dividend as operations remain firing amid coronavirus
The defence and security group’s factories have been designated as critical to national security in the UK, US and Norway and so exempt from the coronavirus lockdown
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Chemring reiterates outlook as order intake rises
The firm was seeing “growing demand” for its sensors & information services while its UK countermeasures & energetics facility was ramping up following a restart last year
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Chemring Group says 2019 was slightly ahead of expectations
The company completed multiple divestments, implemented significant change and repositioned the business.
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FTSE 100 finishes higher as markets boosted by Boris Johnson effect and China story
Britain's blue chip index finished up over 165 points higher, or 2.25%, at 7,519 on the day
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Chemring to boost profits with US defence department contract
The defence group will supply 75 more units of its specially designed chemical agent detector, after a successful design review earlier this month
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Chemring “fairly valued” following recent rally, says Berenberg
In a note, the German bank said shares in the firm were the “best performing” in the pan-European aerospace and defence sector
Investments and investor services
FTSE 100 closes near flat as US ADP jobs report shakes confidence
The UK blue-chip share index finished up around four points at 7,218
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Mid-caps to dominate corporate news on Wednesday as FTSE reshuffle day arrives
Budget airline easyJet is expected to exit the FTSE 100 index after the latest quarterly review, while JD Sports is seen taking its place among the blue-chips
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US jobs data, ECB policy decision to make for up meagre flow of corporate news in coming week
Asides from the macro news, the Week Ahead also brings the latest quarterly FTSE indexes reshuffle, a strategy update from insurer Aviva, and results from Auto Trader
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Chemring celebrates early insurance pay-out and two significant contract wins
The board's full-year expectations for 2019 are unchanged but results will be less second-half weighted than previously expected
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Chemring gets shot of discontinued Chemring Military Products unit
The business sold by Chemring procures and supplies ammunition and weapons systems. It is, of course, based in the USA
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Chemring now expects to make 85% of its profits in the second half
The flare maker kept its full-year guidance in place, but its statement, which essentially amounted to a first-half profit warning, spooked investors
Investments and investor services
FTSE 100 finishes lower as uncertainty continues to be the watchword
The UK's premier share index finished down over 27 points at 6,834
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Whatever the UK government no-confidence vote outcome, investors will have plenty to chew over on Thursday
The Day Ahead will bring updates from the likes of Primark-owner Associated British Foods, a caffeine-free Whitbread, credit checker Experian, and software firm Sage
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Chemring now sees £15mln hit from Salisbury factory explosion
The decoy flares maker had previously said the damage from the blast and the subsequent shutting down of the facility would hit profits by between £10-20mln
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Chemring expects explosion at Salisbury facility to impact current year profit by up to £20mln
The defence contractor said the explosion, which left one person dead and another badly injured, has caused damage to parts of the factory's manufacturing operations and production is currently suspended
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Chemring Group shares up as Barclays upgrades rating to ‘overweight’
Barclays has also increased its price target to 266p
LPA Group, Zenith Energy and Akers Biosciences among small cap highlights
A look at some of the biggest risers and fallers in London.
Hardware & electrical equipment
Chemring Group surges on back of improved showing from its Countermeasures division
"In light of strong order book cover and improved performance, the board's outlook for FY 2018 remains positive, with expectations unchanged. As previously highlighted, we expect a stronger contribution from Countermeasures and scheduled re