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View the Chemring Group PLC Interim Results 2017 Webcast

INTRODUCTION TO CHEMRING

January 2016

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RESULTS FOR THE SIX MONTHS TO 30 APRIL 2017

Michael Flowers

“In the first half of 2017 the Group has continued to build on its H2 2016 performance, with solid order intake and revenue delivery from its operations. The consistency of manufacturing operations across all sites continues to improve, delivering more predictable revenue flow and improved margins.  

The Operational Excellence Programme, designed to further enhance safety, improve gross margins and cash conversion, is underway with initiatives launched in support of lean operations, supply chain management, integrated sales and marketing operations and safety maturity. Combined with ongoing site consolidation and cost base management efforts, this is expected to improve both delivery and margin performance over time.

Major programmes underpinning current performance and medium term growth, continue to plan. The four major US Programs of Record continue to evolve, with solid progress made on both the F-35 and HMDS programmes. On the chemical and biological detection programmes, development work has continued, with major customer reviews and tendering activities being the focus of our efforts in the second half.

The Board’s expectations for FY 2017 are unchanged.”

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