9th Jan 2025 12:05
Cohort PLC - Reading, England-based technology firm - Says its German subsidiary, ELAC Sonar GmbH, has received a contract amendment to the value of EUR16.4 million, for the delivery of a sonar system to an additional unit of the Italian Navy's new build submarine programme. The amendment brings the 2021 contract's total value up to EUR100 million, and covers the supply of sonar systems to four submarines.
Cohort Chief Executive Officer Andy Thomis says: "We believe that ELAC's Sphere digital hydro acoustic technology provides the most advanced and effective sonars available worldwide, enabling a generational leap in underwater battlespace performance. Together with our other recent contract wins at ELAC and across the group, this announcement further demonstrates the visibility of our future revenues."
Current stock price: 1,141.91 pence, up 1.1% in London on Thursday afternoon
12-month change: up from 550.00p
By Emily Parsons, Alliance News reporter
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