A Romsey-based firm has reported a sharp rise in interim profits.

Chemring Group saw profit before tax climb 74 per cent to £26.5 million for the six months to April 30, up from £15.2 million last year.

The company, which provides technology products and services to aerospace, defence and security markets, also reported a record order book worth £1.3 billion.

Michael Ord, chief executive of Chemring, said: "Our 2024 momentum has continued into this year with another period of record order intake.

"The board's expectations for the full year are unchanged."

Revenue rose nearly five per cent to £234.3 million, driven by a 20 per cent sales increase in its Countermeasures & Energetics division.

Chemring declared an interim dividend of 2.7p per share, up from 2.6p a year earlier.

The company aims to reach £1 billion in annual revenue by 2030, supported by growing global defence spending, particularly among NATO countries.

Net debt rose to £93.3 million, reflecting higher capital investment in growth projects.