29th May 2025 12:03
(Alliance News) - Cohort PLC on Thursday said trading in the 2025 financial year was in line with expectations as it hailed a record closing order book.
The Reading, England-based technology firm said it recorded "strong growth" in revenue and profit in the twelve months to the end of April, in line with market expectations.
The company said its performance was driven by organic growth in the Communications and Intelligence division, helped by a three-month contribution from its purchase of Australian naval communications firm EM Solutions Pty Ltd.
Order intake was around GBP285 million and exceeded revenue, excluding the GBP80 million order book acquired with EM Solutions.
In 2024, order intake was GBP387 million, including an "exceptionally large" order from the Royal Navy of GBP135 million.
Excluding the Royal Navy order, Cohort said its order intake increased 12% in financial 2025.
It said the closing order book of GBP615 million at the end of April was a new record for the company and was 19% higher than GBP518.7 million a year ago.
Cohort said the order book provides 80% cover, or GBP230 million, of current market revenue expectations for the new financial year.
The company said it continues to see "good demand" for its products and services, as the drivers for investment in defence remain strong.
It has an "encouraging pipeline of order opportunities" for the current year which gives a positive outlook for organic growth in the years ahead.
It left expectations for the coming financial year unchanged.
Chief Executive Andrew Thornis said: "We are excited about the integration of EM Solutions and the additional opportunities for growth it represents. It was a significant step for Cohort, broadening our strong naval systems service offering, bringing in new customers and enhancing the global footprint of the combined business.
"Our strong balance sheet and liquidity provides a robust platform from which to continue to invest in the business while considering selective acquisitions. We expect to continue our strong organic growth in 2025/26 and beyond."
Shares in Cohort were down 5.7% to 1,462.00 pence in London at midday on Thursday.
By Michael Hennessey, Alliance News reporter
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