Nov 12th 2012 - Edison Investment Research today published a report on Chemring (CHG.L, LSE:CHG, LON:CHG) entitled "The Bad, The Bad And The Ugly". In summary, the report says:
Following confirmation that the faint hope of a suitable bid from Carlyle had evaporated, Chemring’s focus turns to creating a turnaround vision, a task that appears daunting. Ever since June’s interims, the focus was on the group to deliver stellar H2 results to meet expectations. Two profit warnings later and following protracted bid negotiations, Chemring is left ruing the decision not to cut those expectations at the time. Having lost the former FD and CEO, many are left wondering whether the group can deliver any form of stability, let alone growth. With the appointment of Mark Papwoth as CEO, investors have a man with turnaround experience, although we do not expect it to be a quick or easy process.
Edison Investment Research is a leading international investment research company. It has won industry recognition, with awards both in the UK and internationally. The team of 95 includes over 60 analysts supported by a department of supervisory analysts, editors and assistants. Edison writes on more than 400 companies across every sector and works directly with corporates, fund managers, investment banks, brokers and other advisers. Edison’s research is read by institutional investors, alternative funds and wealth managers in more than 100 countries. Edison, founded in 2003, has offices in London, New York and Sydney and is authorised and regulated by the Financial Services Authority (www.fsa.gov.uk/register/firmBasicDetails.do?sid=181584). more »