TechMARK movers: Cobham rises despite caution

Shares in defence firm Cobham rose despite a cautious statement with its 2010 figures. Profits in 2010 were hurt by delays in orders in the US and the company sees continuing difficulties this year as the US seeks to rein in spending following the financial crisis. Statutory pre-tax profits in 2010 fell to £189m from £245m on revenues that edged up to £1.8bn from £1.75bn. However, underlying pre-tax profits grew to £306m from £295m, the company said. Among the exceptional expenses Cobham faced were a £19m post-tax one off settlement of a commercial dispute. The final dividend rises by 10% to 4.4p a share, taking the total payout for the year to 6p a share, also up 10%. Human tissue samples supplier Asterand was boosted by news that it has received French R&D tax credit approval.IT staffing and services provider Parity fell into loss in 2010. The staffing side remains profitable but the solutions business lost money. However, the solutions division broke even in the fourth quarter of 2010. A new divisional structure has been put into force. The three divisions are systems, talent management and resources. Philip Swinstead, who has returned to Parity as chairman, says that 2011 will be a year of consolidation. FTSE TechMARK - Risers Asterand (ATD) 18.50p +5.71%Cobham (COB) 220.40p +5.51%Antisoma (ASM) 2.70p +3.85%Promethean World (PRW) 60.00p +2.56%Sinclair Pharma (SPH) 36.25p +2.11%E2V Technologies (E2V) 108.00p +1.89%Innovation Group (TIG) 15.75p +1.61%Corin Group (CRG) 43.50p +1.16%Wolfson Microelectronics (WLF) 278.75p +0.81%Consort Medical (CSRT) 530.00p +0.57% FTSE TechMARK - Fallers Parity Group (PTY) 22.50p -10.00%AEA Technology Group (AAT) 4.50p -7.69%Torotrak (TRK) 27.75p -5.13%RM (RM.) 147.00p -3.92%Spirent Communications (SPT) 150.60p -3.03%Micro Focus International Plc (MCRO) 302.80p -2.82%Axis-Shield (ASD) 307.25p -2.46%Vislink (VLK) 20.50p -2.38%Oxford Biomedica (OXB) 6.21p -2.13%Sepura (SEPU) 44.00p -1.95%