Chemring bullish on 2011 as order book almost full

MILITARY equipment maker Chemring said its order book stood at £819m, 43 per cent higher than at this stage last year and prospects for 2011 were good.

The company, which makes ejector seats and pyrotechnic decoys for military aircraft,
said trading in the four month period to the end of August had continued to strengthen, with revenue rising by 23 per cent to £176m. It said its full-year results would be in line with expectations.

Market expectations for full-year pre-tax profit range between £112m and £126m, with the average at £123m, according to a consensus. Chemring said it was continuing to see a robust market in the US, which accounts for 55 per cent of business.