Cohort plc today announces its final results for the year ended 30 April 2014

Published 26th June 2014

Cohort plc today announces its final results for the year ended 30 April 2014. Highlights include:

  2014 2013 %
Revenue £71.6m £70.9m 1
Adjusted operating profit* £8.2m £7.3m 11
Adjusted profit before tax* £8.3m £7.5m 11
Adjusted earnings per share* 19.15p 17.94p 7
Statutory profit before tax £6.7m £8.5m (21)
Net funds £16.3m £16.4m (1)
Order book (closing)* £82m £85m (4)
Proposed final dividend per share 2.8p 2.3p 22
Total dividend per share 4.2p 3.5p 20

* Excludes exceptional items, amortisation of other intangible assets and exchange differences on marking forward exchange contracts to market. Order book at 30 April 2014 excludes £10.6m Space business order book (2013: £10.4m)

Looking forward:

  • Good order book underpinning revenue for current year
  • Strong net funds provide resources for investment and acquisitions

Commenting on the results, Nick Prest CBE, Chairman of Cohort plc said:

“Cohort again improved its performance in the year, achieving a record adjusted operating profit. The disposal of its Space business has enabled the Group to unlock net funds to provide further resources for acquisitions and internal investment.

“All three Cohort businesses are on a sound operational footing and the management emphasis is now on maintaining and improving performance, whilst driving growth both organically and by acquisition, supported by a strong funding position. Despite uncertainties in the wider Defence market, the Board considers that Cohort’s order book and near term prospects provide a good base for future progress following the disposal of our Space activities.”

A presentation for analysts is being hosted today (26 June 2014) at 9.15am for 9.30am at Investec’s offices.

For further information, please contact MHP Communications.