Chemring Group PLC
Chemring is a global group of companies that specialises in the manufacture of energetic material products and decoy countermeasures. Chemring Group employs over 3500 people in the UK, US, France, Germany, Italy, Norway, Spain and Australia and operates in four main market segments: Pyrotechnics, Explosive Ordnance Disposal (EOD), Munitions and Countermeasures and provides solutions for highly demanding customer requirements in defence, security and safety markets.
Results for the year ended 31 October 2009
|
2009
£m |
2008
£m |
| Continuing operations: |
|
|
| Revenue |
503.9 |
354.2 |
| Underlying operating profit* |
114.7 |
84.9 |
| Finance expense |
(12.9) |
(12.6) |
| Share of post-tax results of associate |
0.1 |
0.1 |
| Underlying profit before tax* |
102.6 |
74.2 |
| Profit before tax |
95.8 |
57.7 |
| Underlying earnings per share* |
213p |
160p |
| Basic earnings per share |
199p |
123p |
| Dividend per share |
197p |
123p |
* See Note 2 below
Notes:
- All comparisons are for the year to 31 October 2008.
- Excludes intangible amortisation arising from business combinations and loss on fair value movements on derivatives of £6.8 million (2008: £16.5 million). Underlying earnings per share is reconciled to basic earnings per share in note 12 of the financial statements.
- The final dividend of 36p per ordinary share will be paid on 1 April 2010 to holders on the register at 19 March 2010. The ex-dividend date will be 17 March 2010. Total dividend for the financial year to 31 October 2009 was 50p (2008: 35p) per ordinary share.
Financial Highlights :
- Revenue from continuing operations up 42% to £503.9 million (2008: £354.2 million)
- Record order book of £559 million, up 37% on 2008
- Underlying operating profit from continuing operations* up 35% to £114.7 million (2008: £84.9 million)
- Underlying profit before tax from continuing operations* up 38% to £102.6 million (2008: £74.2 million)
- Underlying earnings per share* up 33% at 213p (2008: 160p)
- Profit before tax up 66% to £95.8 million (2008: £57.7 million)
- Basic earnings per share up 62% at 199p (2008: 123p)
- Dividend per ordinary share up 43% at 50p (2008: 35p)
Group Sales Analysis
Destination
Segment
Divisional Highlights
Energetics
- Revenue increased by 63% to a record £320 million
- Order book £327 million, up 16% since October 2008
- Excellent performance by Simmel Difesa
- Strong contribution from Niitek in the period since acquisition
Countermeasures
- Good growth in 2009 with revenue up 17% to £184 million
- Order book £232 million, up 81% since October 2008
- Record production at Chemring Countermeasures and Alloy Surfaces
- Capital projects valued at £24 million commenced in the UK and Australia
Please download the full Chemring Group Brochure 2010
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