Chemring Group Plc (CHG.L), a provider of defense products and services, said on Wednesday that it will commence a share repurchase worth up to 40 million pounds to reduce its share capital. The buyback will begin on February 26 and end no later than the 2027 annual general meeting.
In addition, the Group noted that its full-year outlook is in line with the current market projections. For the full-year 2025, Chemring believes that analysts' expect the Group to report underlying income per share of 20 pence, with underlying operating profit of 75.9 million pounds, on revenue of 540 million pounds.
The order book as of January 30 was 1.351 billion, higher than 991 million pounds, recorded for the same period last year.
Further, the Group, said: "With the new administration in the US pushing for significant increases in NATO defense spending and with EU member states recognizing the critical need to scale up and co-ordinate defense production across Europe, the market opportunity for Chemring continues to grow. This presents a significant opportunity for the Group's products and services."
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