November 15, 2018 / 7:48 AM / a year ago

Chemring Group revenue falls, streamlines Energetics business

Nov 15 (Reuters) - Defence contractor Chemring Group Plc reported lower full-year revenue on Thursday and said it would exit some businesses in its Energetics segment that makes components for explosives as part of a restructuring.

"The future focus within the Energetics segment should be on the niche specialist energetic materials businesses in Chicago, Ardeer and Norway," the company said.

The segments that Chemring will exit under its Energetics business - which provides components for explosives and other devices - are located in Derby and Florida and will be treated as discontinued in its 2018 financial statements, it said.

Total full-year revenue fell to 436 million pounds ($566.8 million) from 547 million pounds a year earlier.

The company said excluding the impact of the CCM factory blast this year, trading across the group in the fourth quarter was in line with its expectations. ($1 = 0.7692 pounds) (Reporting by Pushkala Aripaka in Bengaluru; Editing by Gopakumar Warrier)

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