4 March 2021 | 08:01am
StockMarketWire.com - Defence company Chemring said performance since the onset of the current financial year had been as expected for both its sectors, though flagged a potential drag on performance from a stronger pound.
Order intake in the period to 28 February 2021 was £128 million, down from £132 million, with a book to bill ratio slipping to 127% from 125%. The company said its expected 2021 revenue was now 89%
The company maintained its expectations for the current year remain unchanged, with the exception of the potential impact of foreign currency translation.
The average US$ rate of $1.37 compared with $1.28 in the first half of 2020, giving a 7% headwind, the company said.