Chemring Warns of Defense Spending Delays

Chemring, a defense company valued at £1.3 billion, has expressed concerns over delays in government spending, despite a global increase in arms budgets. The company, known for creating countermeasures to protect air and naval forces from missiles, reported a 31% rise in pre-tax profits but noted a weaker period for its sensors and information division due to UK government spending delays. The defense sector is eagerly awaiting detailed spending plans, with many firms, including Chemring, expressing frustration over the lack of firm commitments that could negatively impact smaller and medium-sized businesses in the industrys supply chains.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.