Chemring reports preliminary financial results for 2010

Preliminary 2010 financial results published by Hants-based defence company Chemring showed an 18 per cent increase in revenue as well as underlying operating profit in comparison to 2009’s figures.

The order book for 2010 year end totaled £803.3m, up 44 per cent from £599m for the previous year, and is today at a new record high of £902m.

Underlying profit before tax was up 14 per cent to £116.8m and underlying earnings per share were up 15 per cent to £2.46.

The company’s net debt increased to £307.5m, having totaled £122.8m in 2009.