Cohort subsidiary wins three UK defence contracts

Cohort

954.00p

15:25 15/11/24

-3.64%

-36.00p

Technology company Cohort announced on Thursday that its subsidiary Marlborough Communications (MCL) has been awarded three new contracts with the UK Ministry of Defence, worth a combined value of about £9.2m.

Aerospace and Defence

11,646.40

15:45 15/11/24

-1.54%

-182.21

FTSE AIM 100

3,528.04

15:45 15/11/24

n/a

FTSE AIM All-Share

728.67

15:45 15/11/24

n/a

The AIM-traded firm said the contracts involved new partnerships with IAI ELTA Systems in unmanned ground vehicles, and Rohde and Schwarz in the area of electronic intelligence.

Deliveries would start in the company’s current financial year and continue through into 2022, with the majority of revenue falling in the 2022 financial year.

“These contract wins clearly demonstrate the important role MCL plays in partnering with key technology providers to supply unique products and services for UK defence,” said chief executive officer Andy Thomis.

“Together with other recent contract wins across the group, these contracts further strengthen our order book and enhance the visibility of our revenues in this financial year and beyond.”

At 0956 GMT, shares in Cohort were up 1.07% at 621.6p.