16th Sep 2014 09:29
LONDON (Alliance News) - Technology group Cohort PLC said Tuesday that its order book has continued to improve in the first quarter to the end of August, bolstering its revenue visibility for the year, in a statement ahead of its annual general meeting.
Cohort said its order book had increased to GBP89 million as at August 31; at the time of its full-year results to end-April in June the company said its closing order book had totalled GBP81.7 million.
Growth in the order book was boosted by GBP5.4 million acquired with communications and surveillance technology company Marlborough Communications Ltd in July.
The company said it had also seen good domestic and export opportunities, although the timing of export opportunities is "always hard to predict."
Cohort's cash as at August 31 was GBP14 million, following its GBP6.0 million initial payment for Marlborough Communications.
"Overall, Cohort's trading, order intake and prospects at this early stage of the year are consistent with making further progress in 2014/15," the company said in the statement.
Shares in Cohort were trading up 1.9% at 210.00 pence per share Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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