Cohort PLC Notice of Results (change of date) (5738D)
June 27 2019 - 2:01AM
UK Regulatory
TIDMCHRT
RNS Number : 5738D
Cohort PLC
27 June 2019
27 June 2019
COHORT PLC ("Cohort")
NOTICE OF FINAL RESULTS
CHANGE OF DATE
Cohort, the independent technology group, will be announcing its
final results for the year ended 30 April 2019 on Tuesday 23 July
2019. This is a change of date from that originally advised (2
July).
The Group has decided to allow for extra time to complete the
audit of the results, reflecting the impact of the acquisition of
Chess Technologies (Chess) on 12 December 2018 (the Group's largest
acquisition to date) and the greater complexity around the
introduction of IRFS15 (Revenue from Contracts with Customers).
The Board believes the delay in completing the audit does not
reflect any issues concerning the underlying trading or economic
position of the Company. The Board confirms that it believes the
Group's financial performance for the financial year ended 30 April
2019 has been consistent with its expectations, including Chess
since its acquisition. Order intake during the year totalled a
record GBP189.9m. Net debt as at the year end stood at GBP6.4m,
significantly lower than anticipated (having paid initial cash
consideration of GBP20.1m for Chess in December 2018).
There are no matters in connection with the delay in completing
the audit which, in the view of the Board, need to be brought to
the attention of shareholders.
As previously stated, Cohort management will be hosting a
presentation for analysts on the day of announcing its final
results. Please contact MHP Communications for further
information.
Ends
For further information, please contact:
Cohort plc 0118 909 0390
Andrew Thomis, Chief Executive
Simon Walther, Finance Director
Investec Bank plc 020 7597 5970
Daniel Adams / Christopher Baird
/ Richard Short
MHP Communications Limited 020 3128 8100
Reg Hoare / Ollie Hoare / Luke
Briggs
NOTES TO EDITORS
Cohort plc (www.cohortplc.com) is the parent company of five
innovative, agile and responsive businesses based in the UK and
Portugal, providing a wide range of services and products for
domestic and export customers in defence and related markets.
Chess Technologies, through its operating businesses Chess
Dynamics and Vision4ce, offers systems and technologies for
detecting, tracking, classifying and disrupting naval, land and air
threats. It was acquired by Cohort plc in December 2018.
www.chess-dynamics.com & www.vision4ce.com
EID designs and manufactures advanced communications systems for
the defence and security markets. Cohort acquired a majority stake
in June 2016. www.eid.pt
MASS is a specialist defence and technology business, focused on
electronic warfare, information systems and cyber security.
Acquired by Cohort in August 2006. www.mass.co.uk
MCL - an expert in sourcing, design and integration of
communications and surveillance technology, as well as support and
training for UK end users including the MOD and other government
agencies. MCL has been part of the Group since July 2014.
www.marlboroughcomms.com
SEA is an advanced electronic systems and software house
operating in the defence, transport and offshore energy markets.
Acquired by Cohort in October 2007. www.sea.co.uk
Cohort (AIM: CHRT) was admitted to London's Alternative
Investment Market in March 2006. It has its headquarters in
Reading, Berkshire and employs in total around 900 core staff there
and at its other operating company sites across the UK and in
Portugal.
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END
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