Protection for hearing and earnings
Cohort’s MCL operation has announced the award of an additional £9.9m four-year contract for the provision of hearing protection systems to the UK MoD. With Cohort having completed the minority buyout on 1 February, the increased visibility from the hearing protection revenue stream now provides greater support for MCL’s medium-term forecasts, increasing earnings quality. Cohort has continued to outperform the market so far this year, continuing to trend towards our fair value of 485p.Cohort is a holding company. Co. operates through its subsidiaries: Empresa de Investigacao e Desenvolvimento de Electronica, S.A., which is engaged in the fields of electronics, tactical and naval communications, command and control; MASS Consultants Limited, which is an electronic warfare operational support, cyber security, secure ICT networks and support to operations business serving customers primarily in defense and security markets; and Marlborough Communications Limited, which is a supplier of electronic communications, information systems and signals intelligence technology to the defense and security sectors.
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