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.
-
The worst London boroughs to sell a second home as investors face £16k capital gains tax billProperty investors selling up in London are benefiting from a decade’s worth of house price rises, but for many it’s resulting in higher capital gains tax bills
-
UK to have highest inflation among advanced economies this year and next, says IMFThe International Monetary Fund (IMF) says it expects inflation to remain high in the UK, while lowering economic growth forecasts for 2026.
