Technology group Cohort said it was looking to build on record profits last year after a strong first quarter.
In a speech to the company's annual general meeting, Chairman Nick Prest said a combination of a good order book, strong net funds and businesses with operational momentum provided a solid foundation for the current financial year.
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
Although the UK defence market remains tight the business had a good pipeline of new opportunities with the Ministry of Defence and in export markets, Prest said,
At the end of July the group order book stood at £111m, up from 107.1m at the end of April.
The company has been spending more recently to support its projects but said it had a cash balance in excess of £12m as at 10 September, down from £14.1m at the end of April.
Prest added that the cash meant it would consider acquisitions if suitable opportunities arose, while continuing to focus on organic growth and operational improvements.
-
Millions at risk of 'unnecessary' tax bill – how to shield your savingsMillions of Brits could be taxed on their savings interest this year as their savings interest exceeds the personal savings allowance. Are you at risk?
-
Savers will have to wait as long as 48 years to build a £1m cash ISA pot if allowance is cutChancellor Rachel Reeves is rumoured to be planning a cut to the cash ISA allowance in the Autumn Budget, making it harder for savers to build wealth. Will you still be able to build a £1 million cash ISA pot?
