Cohort shares jump on strong trading and record closing order book

(Alliance News) - Cohort PLC on Wednesday said a record closing order book provides confidence looking ahead as it said full-year sales and profit would top City forecasts.

The Reading, England-based defence technology business said revenue reached GBP303 million in the financial year to April, with adjusted operating profit of GBP36 million, ahead of market expectations.

Cohort said consensus market expectations were for GBP34.7 million of adjusted operating profit on GBP293.9 million of revenue.

Revenue would be 12% higher than GBP270.0 million in the prior financial year and adjusted operating profit up 31% from GBP27.5 million.

In response, shares in Cohort leapt 8.4% to 1,338.00p each in London.

The Communications and Intelligence division saw 27% growth in revenue, with margin improving to 20% from 16.8%, including a full-year contribution from EM Solutions.

The Sensors and Effectors division reported a slight drop in revenue with a net margin of around 7%, down on-year from 8.6%.

"All three businesses in the Sensors and Effectors division delivered positive trading profit in the year, but the low net margin remains below our mid-term target," Cohort said.

Cohort reported a "strong" order intake of GBP313 million, up 10% on-year from GBP284 million, exceeding in-year revenue. The closing order book hit a new record of GBP620 million, up from GBP615 million a year ago.

This underpins the around GBP253 million of current market revenue expectations for the new financial year, Cohort said.

Chief Executive Andrew Thomis said the "high level of order cover provides confidence in a strong 2026/27 financial year."

Full-year results are due for release on July 15.

By Jeremy Cutler, Alliance News reporter

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