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.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
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
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.
MF
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Will bond vigilantes come for Donald Trump?
Bond vigilantes could make a comeback if Donald Trump follows through on some of his promised policies
By Simon Wilson Published
-
Is Donald Trump's re-election a wake-up call for Europe?
Donald Trump will turbocharge the US economy – and expose Europe's weakness
By Matthew Lynn Published