Cobham awarded 165m-pound UK MoD contract extension

Cobham has been awarded a five-year base contract extension worth 165m pounds by the UK Ministry of Defence (MoD) for essential operational readiness training.

The group said that the contract, which has an anticipated value of £200m through to 2019, builds on a 25-year partnership with the Royal Navy and Royal Air Force, using Cobham's understanding of front-line needs and technology know-how to provide training to service personnel operating platforms such as the Eurofighter Typhoon and Type 45 Destroyer.

Commenting on the contract, Cobham Chief Executive Officer, Bob Murphy said: "We have successfully adapted our operational readiness training to meet the needs of the Armed Forces through to the end of 2019, using the extensive technology and know-how we have developed since the service was first introduced in the mid 1980s.

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

"We look forward to further developing this highly effective partnership with the MoD."

Cobham's share price was down 1.92% to 281.70p at 08:18 on Thursday.

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.