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(Alliance News) - Chemring Group PLC said Friday it expects adjusted profit to be "slightly ahead" of expectations and also announced a new contract win.
The defense engineering firm said for the year ending October 31, adjusted profit is expected to be "slightly ahead" of expectations, following "continued positive momentum". Adjusted earnings per share is also expected to be ahead of expectations, the firm said.
Chemring Group also said it has received a contract award for further 75 aerosol and vapor chemical units from the US Department of Defense. This award was exercised as an option under the previously announced contract for aerosol and vapor chemical baseline product development with multi-layer production options, company noted.
These units are expected to be delivered in Chemring's 2020 financial year.
Chemring Group shares were up 3.2% at 208.49 pence each on Friday.
By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com
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