Cohort, a U.K. defense company, is optimistic about its performance in fiscal 2024. The company has had a promising start to the year, securing significant contracts and anticipating more orders to come.
Strong Contract Wins
As of September 22, Cohort’s order book stands at £370 million ($451.8 million) due to winning over £90 million in contracts since the beginning of the year.
Positive Momentum Continues
Following increased activity with the U.K. Ministry of Defence (MOD) last year, Cohort has maintained strong momentum in the first quarter of this year. The company foresees promising opportunities to secure additional long-term orders for its naval systems and support work, both domestically and in export markets.
Financial Outlook
While Cohort expects its net cash balance to decrease due to planned capital expenditures and working capital expansion, it aims to maintain positive net funds by the end of the year. As of August, the company’s net funds amounted to £15.2 million, a slight decrease from £15.6 million three months earlier. Cohort reassures that it has sufficient cash and banking facilities to fulfill its commitments and potential acquisitions.
