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Chemring Group FY Pretax Loss Widens - Quick Facts

Chemring Group plc (CHG.L) on Thursday reported pre-tax loss of 22.0 million pounds for the year ended 31 October 2018, wider than pre-tax loss of 6.7 million pounds in the previous year.

Loss after tax was 105.8 million pounds, compared to profit after tax of 6.6 million pounds a year ago. Loss per share from continuing operations was 14.6 pence, compared to loss of 1.5 pence in the prior year.

Underlying profit before tax increased to 25.0 million pounds from 20.0 million pounds last year. Underlying earnings per share from continuing operations were 6.9 pence, compared to 5.9 pence a year ago.

Fiscal year revenue from continuing operations was 297 million pounds, compared to 307 million pounds in the prior year.

The Group said its trading since the start of the current financial year has been in line with expectations across all businesses.

Looking ahead, the Board announced that its expectations for the Group's 2019 performance from continuing operations remain unchanged, based on the assumption that insurance proceeds will cover remediation and operating costs at the UK Countermeasures site in the period before production is re-established.

The Board recommended a final dividend in respect of the year to 31 October 2018 of 2.2 pence per ordinary share. With the interim dividend of 1.1 pence per share, this results in a total dividend of 3.3 pence. If approved, the final dividend will be paid on 18 April 2019 to shareholders on the register on 5 April 2019.

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