25th Apr 2007 07:00
FOR IMMEDIATE RELEASE 25 APRIL 2007
CHEMRING GROUP PLC TRADING UPDATE
Chemring Group PLC ("Chemring" or "the Group") today provides an update on trading before entering its close period in respect of its half year results to 30 April 2007, which are expected to be announced on 26 June 2007.
Trading
The Group has performed well in the first half of the year with trading in line with the Board's expectations. The Group's order book continues to grow and the Board remains confident that the prospects for 2007 continue to look promising.
New Acquisitions
The Group announced the acquisition of Simmel Difesa S.p.A. on 30 March 2007 for an enterprise value of ¢â€š¬72 million (‚£49 million). This acquisition supports the Group strategy for the development of its Energetics business in both the munition and explosive ordnance disposal markets. In its first month within the Group, the performance of Simmel has been encouraging, and the acquisition is expected to enhance Chemring's earnings in the first full financial year post-completion.*
* This statement should not be taken to mean that the earnings per share of Chemring will necessarily match or exceed the historical reported earnings per share of Chemring and no forecast is intended or implied.
For further information:
Dr David Price Chief Executive, Chemring Group PLC 01489 881880Paul Rayner Finance Director, Chemring Group PLC 01489 881880Rupert Pittman Cardew Group 0207 930 0777
CHEMRING GROUP PLCRelated Shares:
Chemring