Chemring flies high as Ukraine and Middle East trouble spots hot up
POLITICAL unrest in trouble-spots like Ukraine and the Middle East is set to boost Chemring, the antimissile flare maker said yesterday.
Chemring, which also makes technology that detects roadside bombs, said world events and increasing NATO commitments pointed to a slowdown in government defence cuts.
Despite tough markets and uncertainty about the timing of orders, its work backlog at the end of July had risen 3.9 per cent to £417.5million against three months earlier.
It won contracts such as a £2.8million deal to supply flares for the F-35 Joint Strike Fighter jet and a £13.6million order for infra-red decoys.
Chief executive Michael Flowers said: "Customer enquiries and improved order intake give us confidence that our markets are stabilising."
Shares rose 2p to 238p.