Wiltshire-based Chemring's results for the year ended Ocrober showed revenue of  £402.5, up 20 per cent year on year and underlying profit before tax of £51.7m, up 31 per cent.

The 2020 performance was ahead of the board’s expectations and there was strong growth in orders and revenue for the Roke division, including a strategically important first electronic warfare order for Resolve into the US Department of Defense.

Expectations for 2021 were unchanged with approximately 78% of expected 2021 revenue covered by the order book.