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Chemring gets advance payment on $30m contract

06 October 2017 07:22

Chemring Group has confirmed that the cash advance payment and export licences associated with the US$30.0m contract to supply 40mm ammunition to an international customer, have now been received.

It said that acceptance of the first delivery had been approved by the customer, and shipments would be ongoing, with the majority of associated revenue and profit being recognised in FY17.

The group said the board's expectations for FY17 full year performance remained unchanged.

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