Chemring soars as defence order book rises toward £680m

AEROSPACE and defence specialist Chemring today revealed a growing order book of almost £680 million, already enough for it to meet its expected revenues for the current year.

The Hampshire-based company, which provides systems to protect jets and ships from missile attack, also said orders for 2023 were “building”.

Its countermeasures unit already has more than 90% of its expected revenue for the year covered, while its sensors business has agreements in place accounting for 60% of its sales projections. Chemring will provide the Ministry of Defence with new radar technology designed to address the threat of hypersonic missiles.

With a major subsidiary in the US, the weak pound flatters Chemring’s revenue when it translates dollar revenue into profits reported in sterling. Its shares rose 15p to 319p, a climb of 5%.