Cobham hikes divi as outlook improves - UPDATE

Defence technology group Cobham has raised its full-year dividend by a third on the back of strong profits and cash generation in 2011, however sales growth was more subdued.

Defence technology group Cobham has raised its full-year dividend by a third on the back of strong profits and cash generation in 2011, however sales growth was more subdued.

Basic pre-tax profit jumped 24% from £189m to £234m, while the underlying pre-tax profit rose 7% from £306m to £328m. The underlying trading margin improved to 19.7% from 18.3% in 2010. Meanwhile operating cash flow (after capital expenditure but before interest tax payments) rose from £271m to £337m.

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