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Chemring - Shares break over £20

May 2007

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.

  • Epic Code:
  • CHG
  • Price:
  • 2084p
Shares in Chemring advanced towards £21 for the first time following a confident AGM statement and major acquisition. The latter saw Chemring acquire Simmel, a key supplier of energetics sub-systems, such as fuses, safety and arming systems and warheads for major ammunition contractors around the world. It also makes medium and large calibre ammunition, rockets and illumination mortar rounds for NATO armed forces. Simmel, which is based in Colleferro, Italy, is being acquired for £52m and generated an audited pretax profit of £6m on turnover of nearly £28 and is expected to enhance earnings in its first full-year post completion. Meanwhile, Chemring’s AGM noted that both its countermeasures ...

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