British military equipment maker Chemring Group Plc (CHG.L), in its interim management Statement covering the period from November 1, 2012, to date, posted a modest increase in its revenues, as improved trading performances in Pyrotechnics and Counter-IED were offset by weaker performances in Countermeasures and Munitions.
Revenues from Counter-IED business in the quarter was up 33 percent and revenues at Pyrotechnics business surged 110 percent. Revenues at Countermeasures business was down 30 percent due to lower opening order book and production delays at US businesses, while revenues at Munitions business was 22% lower than last year.
The Group's net debt at the end of January 2013 was 285.9 million pounds, while it was 244.8 million pounds at the end of October and 316.9 million pounds at the end of January last year.
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