Cohort subsidiary lands eight-year MoD contract extension
By Duncan Ferris
Date: Thursday 14 Feb 2019
(Sharecast News) - Cohort's wholly-owned subsidiary, MASS Consultants Ltd, on Thursday signed the contract for an eight-year contract valued at over £50m.
Under the terms of the contract, MASS will provide in-service support for the UK Ministry of Defence, including operational analysis studies, IT infrastructure management, modelling and simulation and software engineering, representing a continuation of work undertaken by the subsidiary since 2000.
Andy Thomis, chief executive of Cohort, said: "I am delighted to confirm that we have now signed the contract for this important project. This is a testament to both the quality of our bid and the excellence of our performance over the last eighteen years."
The contract is expected to run from April 2019 until March 2027 with a break point in March 2023, while it also includes four optional one-year extension periods that, if exercised, could extend the contract until 2031.
"To be selected as the provider of this important national capability is a great vote of confidence in MASS and in the Cohort Group. Together with other wins from across the group confirmed at the end of 2018, this contract will enhance the visibility of future group revenue," said Thomis.
Cohort's shares were up 0.69% at 372.55p at 1310 GMT.
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