Cohort subsidiary wins £3m Royal Navy contract extension

Cohort's wholly-owned subsidiary SEA was on Thursday awarded a two year extension to its Miscellaneous Sonar Equipment availability-based contract for the UK Royal Navy.

The newly extended contract will last from 1 April to 31 March 2021, and is worth in excess of £3m, according to the AIM traded independent technology group.

Andy Thomis, chief executive of Cohort, said: "This latest contract award further demonstrates our expertise in supporting maritime equipment and builds on our relationship with an important existing client. Alongside other recent wins, this contract enhances the visibility of future group revenue."

Cohort's shares were up 0.40% at 374.00p at 1142 BST.