The Board’s full year expectations are unchanged, supported by 91% of expected 2026 revenue either delivered or in the order book at 30 April 2026. As previously guided, operating profit is expected to be weighted c.70% to H2, reflecting scheduled programme deliveries, customer acceptance timing and the phasing of Sensors & Information contract activity and awards. Countermeasures & Energetics is expected to continue its strong performance in the second half, while Sensors & Information is expected to improve as international product sales and delayed domestic opportunities progress.
The Group remains focused on cash generation and maintaining a robust balance sheet to support further growth. Capital allocation will remain disciplined, with priority given to organic investment, balance sheet strength and value-enhancing opportunities.
The market backdrop remains supportive, with structurally higher defence and national security spending reinforcing long-term demand across the Group’s core markets. Chemring’s longer-term growth prospects are underpinned by robust activity levels, differentiated technologies, strong market positions, high barriers to entry, a substantial order book and pipeline, and continued investment in the business.
With market-leading innovative technologies and services that are critical to its customers the Board remains confident in Chemring’s ability to deliver both organic and inorganic growth, while balancing near-term performance with longer-term value creation. The Board also remains confident in the Group’s previously stated medium and longer-term financial objectives.