Updates

Cohort

January 2017

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Renewed investor optimism for defence stocks has helped Cohort scale new highs but interims didn’t seem so great at first read. Sales were up 1% at £50m and although adjusted operating profit was ahead 11% to £3.9m, it was all down to a three month contribution from the acquisition of EID in Portugal. Strip that away and organic sales were down 12% with profits down 29%. Adjusted eps were 16% lower at 6pOf the two big lumpy divisions that were last year’s high flyers, MASS was flat at a £2.4m operating profit and SEA was sharply backwards with profit down from £1.8m to £1m. The original legacy business, SCS (defence consultancy), reported a loss.Speaking to the chief executive, ...

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Cohort (February 2018)

Cohort - Defence firm posts record profits (August 2016)

Cohort (January 2016)

Cohort - Eps enhancing deal in Portugal; gain since January 58% (September 2015)

Cohort - 22% organic revenue growth in FY15 (July 2015)

Cohort (May 2015)

Cohort - Defence business with £147m order book on a tear (March 2015)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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