Cohort (CHRT)

Sector:

Defense and Aeronautics

Index:

FTSE AIM All-Share

830.00p
   
  • Change Today:
    -8.00p
  • 52 Week High: 838.00
  • 52 Week Low: 443.00
  • Currency: UK Pounds
  • Shares Issued: 41.27m
  • Volume: 79,327
  • Market Cap: £342.56m
  • RiskGrade: 133

Cohort ends year in line, warns on 2022 profitability

By Josh White

Date: Wednesday 26 May 2021

LONDON (ShareCast) - (Sharecast News) - Technology company Cohort updated the market on its financial year just ended on Wednesday, reporting that trading performance was in line with its expectations, although it did warn on its profitability for the new financial period.
The AIM-traded firm said net funds for the 12 months ended 30 April were stronger than expected at £2m, swinging from net debt of £4.7m a year earlier, and net debt of £6.1m at the half-year.

It reported record order intake of around £210m for the year, up from £124.4m year-on-year, with its closing order book rising to £240m from £183.3m at the end of the 2020 financial year.

The board said the closing order book underpinned £100m, or 63%, of market revenue expectations for the year to 30 April 2022, compared to £83m or 60% at the end of the prior year.

Cohort completed the acquisition of ELAC during the year, which the board said represented a "significant" expansion, adding a "profitable and growing" sixth stand-alone business to the group.

While its expectations for revenue growth for the current financial year were unchanged, the board warned that given the expected mix of revenues and resulting margin impact, profit growth was expected to slow.

It explained that delays in the placing of certain orders with EID, representing around one third of that division's revenue, was likely to negatively affect its trading performance.

While the overall performance of Cohort's other businesses meant group revenue expectations were unchanged, leading to "good" revenue growth, the mix of revenues was expected to see a reduction in its overall margin, and accordingly a lower rate of profit growth.

"Cohort had a strong year, performing in line with our expectations despite the challenges posed by the pandemic," said chief executive officer Andrew Thomis.

"Our financial position ended the year stronger than expected with positive net funds."

Thomis said that, together with its banking facilities, that provided the firm with flexibility to invest in the business and consider acquisitions.

"Notwithstanding the disappointment of delays to certain EID orders, we continued to strengthen our order book with further contract wins, and we see good prospects for further significant new orders."

Cohort said it would issue its final results for the year ended 30 April in late July.

At 1133 BST, shares in Cohort Group were down 5.6% at 632.48p.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Cohort Market Data

Currency UK Pounds
Share Price 830.00p
Change Today -8.00p
% Change -0.95 %
52 Week High 838.00
52 Week Low 443.00
Volume 79,327
Shares Issued 41.27m
Market Cap £342.56m
RiskGrade 133

Cohort Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
83.36% below the market average83.36% below the market average83.36% below the market average83.36% below the market average83.36% below the market average
60% below the sector average60% below the sector average60% below the sector average60% below the sector average60% below the sector average
Price Trend
96.18% above the market average96.18% above the market average96.18% above the market average96.18% above the market average96.18% above the market average
45.45% above the sector average45.45% above the sector average45.45% above the sector average45.45% above the sector average45.45% above the sector average
Income
48.43% below the market average48.43% below the market average48.43% below the market average48.43% below the market average48.43% below the market average
42.86% below the sector average42.86% below the sector average42.86% below the sector average42.86% below the sector average42.86% below the sector average
Growth
19.51% above the market average19.51% above the market average19.51% above the market average19.51% above the market average19.51% above the market average
80.00% above the sector average80.00% above the sector average80.00% above the sector average80.00% above the sector average80.00% above the sector average

What The Brokers Say

Strong Buy 1
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 2
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Cohort Dividends

  Latest Previous
  Interim Final
Ex-Div 04-Jan-24 24-Aug-23
Paid 13-Feb-24 03-Oct-23
Amount 4.70p 9.15p

Trades for 24-May-2024

Time Volume / Share Price
16:35 2,429 @ 830.00p
16:35 136 @ 830.00p
16:35 434 @ 830.00p
16:35 107 @ 830.00p
16:35 107 @ 830.00p

Cohort Key Personnel

Chair Nicholas Martin Prest
CEO Andrew Stephen Thomis
Finance Director Simon Walther

Top of Page