Chemring is pleased to announce that implementation of the 40mm ammunition contract to an end user in the Middle East, referred to in the 21 January 2016 results announcement, has commenced, with the related letter of credit in place and advance payment now having been received. Production activities at Chemring Ordnance and its supply chain partners have begun. Initial revenue will be recognised in Q2 FY16 and as previously advised, this multi-year contract is expected to provide a significant contribution to FY16.
- ENDS -
For further information:
| Michael Flowers |
Group Chief Executive, Chemring Group PLC |
+44 (0)1794 833901 |
| Steve Bowers |
Group Finance Director, Chemring Group PLC |
+44 (0)1794 833901 |
| Rupert Pittman |
Group Director of Corporate Affairs, Chemring Group PLC |
+44 (0)1794 833901 |
Andrew Jaques
John Olsen
James White |
MHP Communications |
+44 (0)20 3128 8100 |