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Chemring Group HY Pre-tax Profit Rises; Says Long-term Prospects Remain Strong

Chemring Group PLC (CHG.L) reported that its profit before tax for the half year ended 30 April 2020 rose to 19.0 million pounds from 4.3 million pounds in the prior year.

Profit after tax for the period was 16.3 million pounds up from 3.5 million pounds in the previous year.

Underlying earnings per share grew 154% to 7.1 pence from the prior year.

Revenue grew 37% to 191.0 million pounds from last year's 139.3 million pounds.

Chemring said that it has appointed Fiona MacAulay as a non-executive director. She joins the Board with immediate effect.

Fiona is currently a non-executive director and Chair of the Remuneration Committee at Ferrexpo plc; Chairman and Chair of the Remuneration Committee at Independent Oil & Gas plc; and a non-executive director and Chair of the Health & Safety Committee at Coro Energy plc.

The company confidence that its long-term prospects remain strong, despite the near-term uncertainty.

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