Chemring 2017 full year results
Safety, operational and financial performance improvements continue
Operating profit growth of 14% to £55.4m, and EPS increase of 25% to 12.9p
Continued progress on US counter-IED, Chemical and Biological Detection Programs of Record
Operational Excellence Programme delivering further improvements in safety, knowledge sharing, gross margins and cash generation
Net debt of £80m reflected solid cash generation across the Group, offset by the investment in working capital in the Energetics segment and the normalisation of supplier payment practices
Board recommending a final dividend of 2.0p per ordinary share, giving a total dividend of 3.0p per ordinary share (2016: 1.3p)
Order book at year end of £478m (2016: £593m), fall partly due to FX and fulfilment of large 40mm contracts in Energetics segment. £360m currently due as revenue in FY18, 70% coverage of FY18 targeted revenue
