BUZZ-UK's Chemring ascends on new share buyback plan

Reuters

02-26

BUZZ-UK's Chemring ascends on new share buyback plan

** Shares of British defence contractor Chemring Group CHG.L up as much as 4.2% at 390 pence

** Co launches buyback programme for up to 40 million pounds ($50.60 mln) worth of its shares

** CHG says 2025 outlook is in line with market expectations

** Co announces order book of 1,351 mln pounds ($1,709 mln) as at Jan 30 vs 991 mln pounds for the same period in 2024

** All five analysts covering the stock rate it "buy" or higher; their median PT is 460p - data compiled by LSEG

** Chemring stock down ~6.28% in 2024

($1 = 0.79 pounds)

(Reporting by Rishab Shaju in Bengaluru)

((Rishab.shaju@thomsonreuters.com))

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