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Chemring - Eps of 193p forecast for 2009

August 2008

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

News of another acquisition alongside Chemring's interim results was enough to lead brokers to make yet another round of upgrades to forecasts. Results themselves were quite good with pretax profit rising 17% to Â£23.6m on turnover that rose 41% to Â£150m. Eps was up 24% to 52p. Net debt increased from just under Â£100m to Â£141m reflecting acquisitions. Encouragingly the order book rose 45% to a record Â£425m. Chemring's countermeasures business, which supplies decoys such as flares and chaff to prevent enemy missiles hitting military targets, grew turnover by 21% to Â£71m with profit increasing 7% to Â£19m. This lag reflected a changing mix caused by a significant increase in sales of lower margin naval rounds but this should re ...

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Chemring - Eps of 193p forecast for 2009

August 2008

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