Chemring Targets £1 Billion Revenue by 2030

Chemring (GB:CHG) has released an update.

Chemring Group PLC reports a historic order book of £1.04 billion, an 8% revenue increase, and a 13% hike in interim dividend per share, despite a 5% dip in underlying operating profit and a 10% decline in underlying profit before tax for the first half of 2024. The company’s ambitious expansion plans, backed by a £90 million grant and a £200 million investment in its Energetics capacity, aim for an annual revenue goal of around £1 billion by 2030. The Board’s full-year expectations remain unchanged, with a strong second half projected, as geopolitical tensions fuel a rearmament upcycle, positioning Chemring favorably within the defense sector.

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