8th Jun 2005 12:22
Cobham PLC08 June 2005 08 June 2005 COBHAM ANNUAL GENERAL MEETING STATEMENT: 2005 At the Annual General Meeting held at noon today, Cobham issued the followingstatement: "Since the beginning of 2005 Cobham has completed three small acquisitions - WASystems (UK) a battle field management systems company, TCRMA (France) whichmanufactures and repairs aviation components and Mast Systems InternationalFinland), a manufacturer of portable and mobile telescopic masts for militaryuse. The acquisition of REMEC Defense (US), which designs and manufacturesintegrated active microwave assemblies critical to electronic warfare, wascompleted for US$260m in May. This is our largest acquisition to date,complements our current microwave capability and offers excellent opportunityfor growth. Progress is being made on three potential contracts where we are preferredbidder. These relate to FSTA, Sentry and the operation of Boeing 717s for Qantas,Australia. Progress continues on the development of the fuel pump system forthe A380, and to determine the future of FR Countermeasures Inc. Work undertaken to ensure a smooth transition to International FinancialReporting Standards (IFRS) is complete and on 7 June Cobham announced the impactof restating its 2004 results in accordance with IFRS. Spending in the US on defence, law enforcement and national security continuesto be strong and Cobham is well positioned in these and other growth marketswhere there are opportunities to enhance both product range and service tocustomers. Strong order intake has resulted in a current order book of £1.4b andthis, coupled with operational improvements, underpins performance for the restof the year. Reflecting the pattern of earlier years, trading in 2005 willcontinue to be biased towards the second half. The Board remains confident inits outlook for the full year." NOTES TO EDITORCobham plc - Cobham designs and manufactures equipment, specialised systems andcomponents supplied to the aerospace, defence, homeland security, search andrescue and communications markets and operates, modifies and maintains aircraftfor military training, special mission flight operations and outsourced freightand passenger services. ENQUIRIESCobham plcAllan CookChief Executive Telephone +44 (0) 1202 882 020 Warren TuckerGroup Financial Director Telephone +44 (0) 1202 882 020 Weber ShandwickKirsty Raper Telephone +44 (0) 20 7067 0722 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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