STOCK WATCH

WEAPONS maker Chemring has been handed a cash advance on a £23m deal to supply 40mm shells to an unnamed international customer.

Bosses said their expectations for full-year performance were unchanged.

In June, Chemring reported a loss of £6.8m for the half-year to April 30. However, improved revenues gave bosses enough wriggle room to reinstate a dividend of 1p per share. The Hampshire-based business employs 2,700 staff. Shares rose 4pc, or 7p, to 178.5p.