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.

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.

"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.

MF

Recommended

The MoneyWeek Podcast: picking stocks is fun, but you need to do your homework
Investment strategy

The MoneyWeek Podcast: picking stocks is fun, but you need to do your homework

John Stepek talks to Steve Clapham, investor, analyst and author of The Smart Money Method, about the dangers in picking individual stocks and why you…
8 Apr 2021
BP looks set to return more money to shareholders as it beats expectations
Energy stocks

BP looks set to return more money to shareholders as it beats expectations

Oil major BP is to embark on a share buyback programme after significantly reducing its debts. Saloni Sardana looks at what it means for your portfoli…
6 Apr 2021
Deliveroo has hit the market – but it’s not getting the warmest welcome
UK stockmarkets

Deliveroo has hit the market – but it’s not getting the warmest welcome

Food delivery company Deliveroo made its debut on the stockmarket this morning. But with the share price sliding by 30% straight away, it’s not made t…
31 Mar 2021
Three stocks to buy now that will come back stronger after Covid-19
Share tips

Three stocks to buy now that will come back stronger after Covid-19

Professional investor Ed Wielechowski of Odyssean Capital, chooses three compelling stocks that should thrive in a post-pandemic world.
29 Mar 2021

Most Popular

The bitcoin bubble will burst: here’s how to play it
Bitcoin

The bitcoin bubble will burst: here’s how to play it

The cryptocurrency’s price has soared far beyond its fundamentals, says Matthew Partridge. Here, he looks at how to short bitcoin.
12 Apr 2021
Central banks are rushing to build digital currencies. What are they, and what do they mean for you?
Bitcoin

Central banks are rushing to build digital currencies. What are they, and what do they mean for you?

As bitcoin continues to soar in value, many of the world’s central banks are looking to emulate it by issuing their own digital currencies. But centra…
8 Apr 2021
Four investment trusts for income investors to buy now
Investment trusts

Four investment trusts for income investors to buy now

Some high-yielding listed lending funds have come through the crisis with flying colours. David Stevenson picks four of the best.
12 Apr 2021