7th Jun 2006 12:00
Cobham PLC07 June 2006 7 June 2006 COBHAM AGM STATEMENT Cobham plc ("Cobham") will hold its Annual General Meeting at 12.00 today atPainters' Hall, London and Gordon Page, Chairman, will make the followingstatement: "Following a strong 2005, the year has started well and, in line with the pattern of previous years, trading in 2006 will continue to be biased towards the second half. The outlook for both defence and commercial aerospace markets remains strong. We are making good progress with the implementation of our strategy and continue to enhance our leadership positions across the high technology growth segments of the aerospace and defence markets. Over the last few months, the Group has been awarded a number of importantcontracts, including our largest contract to date, worth A$1bn over 12 years,for the Coastwatch programme in Australia. In the USA, an initial order worthUS$18m was received for personal safety equipment to be used on High MobilityMultipurpose Wheeled Vehicles and a US$8m order was received for external fueltanks for the F-22 Raptor jet. Cobham has also been awarded a contract worth upto US$49m over four years for the supply of tactical communication VHF antennasto the US Army. This strong order intake has resulted in an order book at theend of April 2006 of over £1.8bn. The Group previously announced its strategic intention to reshape the portfolioand dispose of certain of its businesses. This year we have disposed of ourCountermeasures businesses, Precision Antennas, a telecom equipment provider,Atlas Composites and a number of properties. Over £75m of proceeds will begenerated. In the last few months in the Cobham Services Division we have completed theacquisition of Aerodata Flight Inspection GmbH in Germany and the outstandingminority interest in Flight Precision Limited in the UK for a cash considerationof up to €11.2m. The Board is committed to exploiting the strategy announced in 2005. The Groupis strongly positioned in rapidly growing markets and its increased focus andinvestment is expected to deliver continued profitable growth. As a result, theBoard remains confident in its outlook for the full year." - ends -ENQUIRIES Cobham plcAllan Cook, Chief Executive +44 (0)1202 882020Warren Tucker, Group Financial DirectorJulian Wais, Director of Investor Relations Weber Shandwick Square MileSusan Ellis/Kirsty Raper +44 (0)20 7067 0700 NOTESCobham plc is an international company engaged in the development, delivery andsupport of advanced aerospace and defence systems for land, sea and airplatforms. The company has five technology divisions and one in the service sector that collectively specialise in the provision of components, subsystems and services that keep people safe, improve communications and enhance the performance of aerospace and defence platforms. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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