Defense contractor Cohort Plc (LON:CHRT) described its financial results, for the twelve months ended April 30, as “in line with expectations” – featuring lower order intake, at £76.6mln from £108.6mln, due to delays.
"The closing order book of £102.5m, together with recent contract wins, provides a reasonable underpinning for the current year,” said Nick Prest, Cohort chairman.
READ: Cohort lands UK contract for Soldier System Research and Development.
Revenue was reported at £111.8mln for the year, down 1% on the £112.7mln in the preceding year, whereas adjusted pre-tax profit was stated at £15.5mln, up 7% from £14.5mln.
Statutory profit was reported at £9.9mln, compared to £1mln in the results for the year before.
Earnings per share, meanwhile, improved to 19.87p from 9.09p, and the company said its total dividend for the year amounts to 8.2p, up 15% from 7.1p in 2017.
"Cohort again improved its performance in the year, achieving record adjusted operating profit,” Prest said.
Highlighting the group’s divisional performance trends, he added: “A strong contribution from EID and a return to growth at MASS, with MCL steady, offset a weaker performance at SEA. Some restructuring at SEA in 2018/19 will improve its performance."