Chemring Posts H1 Loss

reported a pretax loss in the six months to April 30. Chemring posted a pretax loss of GBP15.1 million ($23.8 million) for its first half, versus a year-ago profit of GBP5.1 million. Underlying loss before tax came in at 1.3 million pounds, versus a profit of 13.4 million pounds. Loss per share came in at 5.6 pence, from earnings per share of 2.4 pence. Its revenue slipped to GBP161.7 million from GBP208.8 million. The company's declared first-half dividend of 2.4 pence. Michael Flowers, CEO, said, "The receipt of orders exceeding £50.0 million since the period end, coupled with further significant orders expected to be won and the resolution of certain operational issues, is expected to result in a strong second half performance."