Cohort FY profits, revenues grow to record levels
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Cohort
858.00p
16:40 06/09/24
Defence contractor Cohort said on Wednesday that both profits and revenues had grown to record levels in the year ended 30 April.
Aerospace and Defence
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16:44 06/09/24
FTSE AIM All-Share
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17:09 06/09/24
Cohort said annual revenues were up by 11% to £202.0m, while pre-tax profits were 42% ahead at £19.8m.
Orders during the year came to £392.0m with Cohort's year-end order book up 58% at £518.0m.
As a result, the AIM-listed group hiked its full-year dividend by 10% to 14.8p.
Chairman Nick Prest said: " We are reporting another strong performance for Cohort with improved revenue, profit and net funds, and one that has exceeded expectations. Our order book surpassed £500m for the first time and provides a solid foundation for the future.
"We are optimistic that the group will make significant further progress in 2025/26 and beyond, based on current orders for long-term delivery, our continued investment in the businesses and our pipeline of opportunities."
Separately, Cohort revealed its Marlborough Communications subsidiary had been awarded two orders from a "UK government customer" worth a total value of £21.4m. Cohort said work will commence immediately and was expected to be completed within twelve months.
As of 1140 BST, Cohort shares were up 4.07% at 859.60p.
Reporting by Iain Gilbert at Sharecast.com