Cohort shares jump on strong trading and record closing order book

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 £303 million in the financial year to April, with adjusted operating profit of £36 million, ahead of market expectations.

Cohort said consensus market expectations were for £34.7 million of adjusted operating profit on £293.9 million of revenue.

Revenue would be 12% higher than £270.0 million in the prior financial year and adjusted operating profit up 31% from £27.5 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 £313 million, up 10% on-year from £284 million, exceeding in-year revenue. The closing order book hit a new record of £620 million, up from £615 million a year ago.

This underpins the around £253 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.

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