Chemring eyes revamp as orders drop

British defence-equipment maker Chemring said it needs to adapt and better equip itself against the challenging market backdrop as it posted a 13 per cent drop in its year end order book.

British defence-equipment maker Chemring said it needs to adapt and better equip itself against the challenging market backdrop as it posted a 13 per cent drop in its year end order book.

The group, whose earnings have been hit by programme delays, technical problems and pressure on defence spending, said its order book at the year end fell to £760m compared to £878.3m in the prior year.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.