5th Nov 2015 07:58
LONDON (Alliance News) - Aerospace and defence manufacturer Cobham PLC on Thursday said it expects its underlying earnings for the full year will miss market expectations as it takes a hit from weak demand in Asia-Pacific and delays on US surveillance orders.
The FTSE 250-listed group said it has made good progress on its aerial refuelling programmes and is making headway on the integration of Aeroflex, the telecommunications equipment maker it acquired last year.
But the group has seen some tough conditions in its satellite communications business, particularly from poor demand in Asia-Pacific and weak orders from the oil and gas industry. It has also seen some delays in US surveillance orders which had been anticipated.
As a result, its underlying earnings per share for 2015 will likely miss market expectations, it said.
By Sam Unsted; [email protected]; @SamUAtAlliance
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