Chemring gains momentum

Shares in Chemring (LON:CHG) climbed 8.96% to 273.50p (as of 16:00 BST) after the FTSE 250 aerospace and defence manufacturer published a trading update for the period to 14th September. Management said that trading has been in line with the upper end of analyst expectations despite challenging market conditions. Order intake in the sensors and information division has been 32% higher than during the previous year.

CEO Michael Ord commented: “We have good momentum as we near the end of FY20 and move into FY21 and, despite the near-term uncertainty that COVID-19 presents, I remain confident that our leading technologies, deep long-term customer relationships and sole-source or market leading positions mean Chemring’s long-term prospects remain strong“.