24 Oct 2016 07:53
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Don't have an account? Click here to register.Cobham slumps as it swings to first-half loss
Thu, 04th Aug 2016 08:36
(ShareCast News) - Shares in Cobham tumbled on Thursday after the FTSE 250 aerospace and defence group said it swung to a loss in the first half and cut its interim dividend.For the six months to the end of June, the company posted a pre-tax loss of £38m from a profit of £4m the year before as revenue slid 13% to £917m.The group said first-half trading reflects previously-announced first-quarter performance issues and "increased headwinds" in the aviation services business.Cobham, which has issued two profit warnings in the past 12 months, declared an interim dividend of 2.03p per share, down from 2.585p in the first half of 2015.Chief executive Bob Murphy said: "After a challenging start to the year we have delivered a significant improvement in trading performance in the second quarter. "We have won a number of key contract awards in the first half and notably every one of the sectors has a stronger order book than a year ago. Our balance sheet is now strengthened and we have achieved stronger cash generation. A number of challenging market and contract execution risks still remain ahead of us, including on our development programmes, and macro-economic uncertainties that could have an impact on our shorter cycle businesses."Still, Cobham said its expectations for the full year, excluding currency translation impacts, remain unchanged, with a more pronounced earnings bias to the second half of the year.
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24 Oct 2016 07:29
Cobham cuts profit guidance as satellite and wireless lag
(ShareCast News) - Softer conditions in the wireless and satellite communications (satcom) markets have led Cobham to issue a profit warning. Although management expects an improvement in the fourth quarter, it said the overall full year outcome was likely to be below its initial estimates and cut i
Read more24 Oct 2016 06:15
Britain's Cobham downgrades profit forecast again
LONDON, Oct 24 (Reuters) - British aerospace and defence company Cobham downgraded its profit forecast for the second time this year after a continued weak performance in its communications unit. Cobham warned on Monday that its annual trading profit would now come in at between 255 million
Read more19 Oct 2016 15:07
4 Oct 2016 15:36
Sector movers: Construction and aerospace lead advance
(ShareCast News) - Construction and industrial engineering stocks led the way higher, with shares in aerospace and defence close behind thanks to the favourable tailwind from the pound's depreciation. Activity in the UK construction sector bounced back in September, with Markit's purchasing manag
Read more29 Sep 2016 15:03
11 Sep 2016 15:45
Sunday newspaper round-up: Inflation, MPC, Tesco, Rolls-Royce, Morrisons
(ShareCast News) - At their meeting this week, the Bank of England's rate setters are expected to pause and take stock of the impact on the economy of its recent interest rate cut, while UK inflation is set to continue its modest rise figures are likely to show. While inflation is likely to be boost
Read more5 Sep 2016 15:25
Monday broker round-up
(ShareCast News) - BAE systems: Goldman Sachs reiterates buy with a target price of 671p. Morrison: Jefferies maintains buy with a 210p target. Compass Group: UBS keeps at neutral with a 1485p target. Rio Tinto: Macquarie reiterates outperform with a 2900p target. Cobham: Goldman Sachs keeps at n
Read more5 Sep 2016 15:21
Sector movers: Big Oil, Industrial Metals pace gains on heels of G-20
(ShareCast News) - Big Oil again lent its heft to the market´s advance after Russia and Saudi Arabia unveiled an agreement to collaborate in the energy space. In a statement issued at the Group of 20 meeting in Hangzhou,China the oil producers said they would set up a working group to monitor the ma
Read more17 Aug 2016 16:16
Britain's FTSE dragged down by drop in Admiral
* FTSE 100 ends down 0.5 percent * Admiral falls as Brexit vote affects solvency ratio * Indivior climbs after clinical trial result * Laird boss to join Cobham, shares diverge (Updates prices at close, adds detail) By Kit Rees and Alistair Smout LONDON, Aug 17 (Re
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