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Cobham Share News (COB)

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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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(ShareCast News) - AstraZeneca: Jefferies reiterates Buy with a target price of 5250p. BT Group: Jefferies reiterates Hold with a target price of 325p. Standard Life: Macquarie reiterates Outperform with a target price of 450p. Cobham: Goldman Sachs reiterates Sell with a target price of 88p. Dra

16 Feb 2017 17:08

UPDATE 1-European shares retreat after 7 sessions of gains, Cobham plunges

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16 Feb 2017 16:59

Britain's FTSE retreats from one-month peak, mid-cap index snaps winning streak

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16 Feb 2017 14:53

Sector movers: Aerospace & Defence and Oil & Gas drag market lower

(ShareCast News) - Stocks in the aerospace and defence space bore the brunt of selling after Cobham warned on profits for the fifth time in just over a year. The FTSE 250 aerospace and defence group took a total of £179m in charges, including £150m from the KC-46 air tanker contract with Boeing, whi

16 Feb 2017 10:30

Britain's FTSE retreats from one-month peak, commodity-linked stocks weigh

(ADVISORY- Follow European and UK stock markets in real time on the Reuters Live Markets blog on Eikon, see cpurl://apps.cp./cms/?pageId=livemarkets) * FTSE 100 down 0.4 pct * Miners, energy shares fall * Ex-divs weigh * Cobham slumps after results By Kit Rees

16 Feb 2017 10:13

European shares retreat after 7 sessions of gains, Cobham plunges

(ADVISORY- Follow European and UK stock markets in real time on the Reuters Live Markets blog on Eikon - see cpurl://apps.cp./cms/?pageId=livemarkets) * STOXX Europe 600 index down 0.3 pct * Cobham plunges 20 pct after results * Miners track weaker metals prices By Atul Pr