2011 Year in Review - Chemring Group PLC

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2011 Year in Review
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2011 Year in review

We have changed our annual report this year, providing this review of our performance in 2011, with the full report available here.

Statement by the Chairman

The Group has pursued a strategy of combining significant organic growth from its existing businesses with a successful programme of acquisitions which have contributed further to the Group’s growth.

Review by the Chief Executive

The Group delivered another year of good growth. Revenue from continuing operations grew by 25% to a record £745.3 million.

Review by the Finance Director

Underlying profit before tax* was up 6% to £125.6 million, and underlying profit after tax* was up 10% to £96.8 million.

Statement by the Chairman
Review by the Chief Executive
Review by the Finance Director

Continued growth at NIITEK

NIITEK increased revenue by 24% to £126.9 million, driven by high level of demand for spares and support for the 200+ HMDS systems in service with the US and Canadian Armies. In addition, 77 HMDS systems were delivered to the US Army.

Sales to non-NATO countries grew by 81% in 2011 and now represents 29% of the Group revenues. We believe that our non-NATO business will grow to 40% of Group revenues, driven by economic growth and modernisation programmes in the Middle East, Far East and South America.

In July 2011, the Group completed the acquisition of the Detection Systems operations of General Dynamics Armament and Technical Products. This acquisition brings a leading US capability in chemical and biological threat detection systems.

Full Report

The full Chemring 2011 Annual Report and Accounts

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Continued growth at NIITEK

Growth in non-NATO countries

Acquisition of Chemring Detection Systems

2011 ANNUAL REPORT RESOURCES

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Full Report

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