Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.

BREAKING NEWS

BREAKING NEWS

Chemring's half-year profit rises on insurance recoveries

Text size Aa Aa

(Reuters) – Defence contractor Chemring Group said on Wednesday half-yearly profit rose 4% as it benefited from faster payouts by insurers for an explosion last year at its UK factory that makes flares to combat heat-seeking missiles.

Underlying operating profit was 12.1 million pounds for the period ended April 30, compared with restated 11.6 million pounds, said the company, which also makes ejector seats for fighter jets and sensors to detect explosives.

(Reporting by Yadarisa Shabong in Bengaluru, editing by Chris Peters)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.