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Cohort PLC - Reading-based defence and security markets-focussed technology - Says its subsidiary Systems Engineering & Assessment Ltd has won a new contract worth around GBP34 million with the UK Ministry of Defence. Under the agreement, SEA will provide systems and equipment upgrade of the anti-submarine warfare and countermeasures systems on some of the platforms "crucial" to the Royal Navy. It will also provide in-service support for these systems across the naval fleet for a period of five years with the option to further extend for two years.
Chief Executive Andy Thomis comments: "This order is a clear demonstration of the strong relationship between SEA and the UK MoD, and further cements SEA's position as a leading supplier of maritime defence systems to navies across the globe. Together with other recent contract wins across the group, this order further strengthens our order book and enhances the visibility of future revenues."
Current stock price: 530.00 pence
12-month change: down 6.7%
By Sophie Rose; sophierose@alliancenews.com
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