The Board’s full year expectations are unchanged, supported by order coverage at 30 April 2025 of 85% of expected 2025 revenue, and with a similar H2 weighting of operating profit to last year as previously communicated in February 2025.
The market backdrop for defence is increasingly robust. The Group’s longer-term growth prospects are strong, underpinned by robust activity levels, our leading technological offerings, our people, our order book and pipeline of further opportunities, high barriers to entry, the investments we continue to make in our strong, high-quality business and the potential for further bolt-on opportunities over time.
The Group remains on track to achieve its ambition to increase the Group’s annual revenue to c.£1bn by 2030. This makes certain assumptions regarding market sizes, inclusion of some bolt-on M&A and is at current FX rates. The Group will continue to focus on cash generation and maintaining a robust and deployable balance sheet to enable opportunities for further growth.
With market-leading innovative technologies and services that are critical to our customers the Board is confident that Chemring will continue to deliver both robust organic and inorganic growth, balancing near-term performance with longer-term growth and value creation.