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Cobham reports in-line trading, somewhat non-committal on outlook

Thu, 25th Apr 2019 08:53

(Sharecast News) - Defence electronics and communications specialist Cobham described first quarter trading conditions as in-line with management's expectations as it continued to work on streamlining and simplifying its business, but in terms of the full-year outlook, and although management expected to continue making "progress", a "range of potential outcomes" was still deemed possible.In a trading update published ahead of the firm's annual shareholders' meeting, Cobham boss David Lockwood said: "We continue to focus on improving operational performance and simplifying the business.""[...] Over the past two years, we have returned Cobham to financial strength, announced our new capital allocation and dividend policy and, slowly but surely, we are resolving the contract, legal and regulatory issues that the business has faced."During the quarter, the company began its cost reduction plan at its Advanced Electronic Solutions Sector unit, which focuses on communication and electronic warfare systems, with executives anticipating savings of $20m for 2019.At the Mission Systems unit meanwhile, it continued to advance on completing the qualification process for its wing aerial refuelling pod for the US Air Force's KC-46 tanker, with completion penciled-in for the middle of 2020.Cobham also put paid during the period to its ongoing dispute with the US Air Force as regards its WARP, paying the $63m balance that was left due on the settlement.The company also announced its pick to become its next chairman, Jamie Pike, starting from 1 May.The board's outlook was unchanged from that provided on 7 March, the company said in a statement, while highlighting "the considerable opportunities to improve the performance of the Group over the medium term and the continuing focus on customers, culture, operational improvement, business simplification and cash will allow the Group to realise its potential."At the start of March, Cobham had said that "overall the Board's expectations for progress in 2019 remain unchanged with a range of potential outcomes. We continue to believe that there are considerable opportunities to improve the performance of the Group over the medium term."As of 0910 BST, shares in Cobham were edging up by 0.17% to 115.65p.
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Cobham H1 profit drops, on track to meet FY forecasts

LONDON, Aug 4 (Reuters) - British aerospace and defence company Cobham reported a plunge in first-half profit, as expected, after difficulties in its communications unit, and said it was on track to meet full-year expectations as earnings improve over the period. Cobham on Thursday posted t

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18 Jul 2016 07:00

RPT-AIRSHOW-UK aerospace puts brave face on Brexit

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15 Jul 2016 15:32

AIRSHOW-UK aerospace puts brave face on Brexit

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11 Jul 2016 18:55

CORRECTED-AIRSHOW-Boeing sees positive results in testing of KC-46A tanker boom

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10 Jul 2016 12:58

AIRSHOW-Boeing defense CEO says always looking at M&A opportunities

FARNBOROUGH, England, July 10 (Reuters) - Boeing Co's defense division is continuing to look at bolt-on acquisitions across its various business areas, and particularly in the services business, Leanne Caret, chief executive of Boeing Defense, Space & Security, said on Sunday. Caret did no

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4 Jul 2016 07:32

Cobham secures QantasLink contract extension

(ShareCast News) - FTSE 250 aerospace and defence group Cobham has signed a contract to extend its current QantasLink contract for the provision of airline services to the end of 2026. The company has secured a 10-year, AUD1.2bn contract to continue provision of airline services to QantasLink, suppo

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4 Jul 2016 06:10

TOP NEWS: Cobham Wins AUD1.2 Billion Deal Extension With QantasLink

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29 Jun 2016 15:59

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29 Jun 2016 11:16

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29 Jun 2016 07:47

Cobham appoints Qinetiq's David Mellors as CFO

(ShareCast News) - Aerospace and defence group Cobham announced the appointment of David Mellors as chief financial officer. Mellors, who is currently CFO at FTSE 250 science and engineering company Qinetiq, will take up the role no later than 1 January 2017. Simon Nicholls, whose resignation was a

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29 Jun 2016 06:49

TOP NEWS: Cobham Poaches New Finance Chief From QinetiQ

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23 Jun 2016 07:50

Cobham wins $200m Airbus contract

(ShareCast News) - Cobham Aerospace Communications said it had won a contract worth up to $200m from Airbus to supply a new safety system with the potential for extra revenue. The system aims at providing voice and data air-ground communication and connects air traffic control applications to high-p

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23 Jun 2016 07:35

LONDON MARKET OPEN: Stocks Up Led By Tesco; Pound Holds Onto Gains

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