Defence contractor Chemring Group (LSE:CHG) said it had made a strong start to the new year with a 51% increase in its order book.
The countermeasures specialist now has a pipeline of work worth £991 million, up from £654 million previously, with the market looking 'increasingly robust' against a backdrop of conflicts in Ukraine and the Middle East.
In particular, the Sensors & Information business has seen a robust order intake, with subsidiary Roke securing further wins in electronic warfare, while Countermeasures & Energetics also reported strong demand.
Ahead of the company's AGM later on Friday, chief executive Michael Ord said: "Our order book momentum has been maintained with the receipt of several significant orders, demonstrating continued customer confidence in Chemring's market-leading products and services.
"The strong order intake across both sectors has further increased our order cover for FY24 to 87% and continues to build our order cover in the outer years, positioning the Group well for the future."