Berkshire-based Cohort (CHRT:AIM), which provides advanced military systems and software to clients including the UK’s Ministry of Defence, posted record revenue and profit for the year to the end of April as rising geopolitical tensions drive more customers to its door.
Sales for the year hit £202 million, up 11%, while adjusted operating earnings also rose 11% to £21 million and the firm revealed its order book jumped almost 60% to £519 million at the end of April.
Last month, Cohort’s EID subsidiary signed a €33 million three-year contract with NATO’s Communications and Information Agency for the Portuguese Army, and last week it announced its MCL subsidiary had won two orders worth a total of £21 million from ‘a UK government customer’ with work starting immediately.
The latest order ‘demonstrates again the effectiveness of MCL’s business model, based on close, trusted relationships with both external technology providers and UK government customers,’ said chief executive Andy Thomis.
‘Its highly skilled and knowledgeable team has a unique capability to provide effective solutions to emerging threats, rapidly, and at competitive prices. Together with other recent contract wins across the group, this further underpins our order book and enhances the visibility of future revenues.’
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