Cobham (COB)

Sector:

Defense and Aeronautics

Index:

FTSE 250

158.00p
   
  • Change Today:
    -1.00p
  • 52 Week High: 168.30p
  • 52 Week Low: 96.84p
  • Currency: UK Pounds
  • Shares Issued: 2,391.01m
  • Volume: 28,776,437
  • Market Cap: 3,777.79m
  • RiskGrade: 111
  • Beta: 0.39

Cobham reinstates progressive dividend

By Iain Gilbert

Date: Thursday 07 Mar 2019

LONDON (ShareCast) - (Sharecast News) - Defence and aerospace outfit Cobham intends to reinstate a progressive dividend policy after strengthening its balance sheet in 2018.
Cobham recorded an underlying operating profit of £196m for 2018, down 8% year-on-year as a result of adverse currency translations and a £22.5m loss contribution from divestments, as revenues slid 10.9% to £1.86bn.

However, with the FTSE 250 resident reporting a net cash balance of £10.3m at the year end, a marked turnaround from the £383.5m net debt position it was in a year earlier, Cobham now expects to pay a full-year dividend of 1p.

Cobham saw a strong performance from its mission systems unit but said that its advanced electronic solutions wing underperformed and that it was now planning cost reductions for the department with anticipated savings in 2019 of $20m.

Chief executive David Lockwood said: "We can see the benefits of our improvement actions starting to come through across most of the business, particularly so in Mission Systems.

"However, Advanced Electronic Solutions underperformed. We have strengthened its management, increased the focus on execution and formulated an overhead cost reduction plan."

Looking forward, Lockwood said the board's expectations for its progress in 2019 remained unchanged, with a range of potential outcomes.

"We continue to believe that there are considerable opportunities to improve the performance of the group over the medium term and our continuing focus on customers, culture, operational improvement, business simplification and cash will allow us to realise this potential."

As of 0810 GMT, Cobham shares were down 0.63% at 119p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Cobham Market Data

Currency UK Pounds
Share Price 158.00p
Change Today -1.00p
% Change -0.63 %
52 Week High 168.30p
52 Week Low 96.84p
Volume 28,776,437
Shares Issued 2,391.01m
Market Cap 3,777.79m
Beta 0.39
RiskGrade 111

Cobham Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
66.84% below the market average66.84% below the market average66.84% below the market average66.84% below the market average66.84% below the market average
69.23% below the sector average69.23% below the sector average69.23% below the sector average69.23% below the sector average69.23% below the sector average
Price Trend
92.02% above the market average92.02% above the market average92.02% above the market average92.02% above the market average92.02% above the market average
53.85% above the sector average53.85% above the sector average53.85% above the sector average53.85% above the sector average53.85% above the sector average
Income
90.4% below the market average90.4% below the market average90.4% below the market average90.4% below the market average90.4% below the market average
81.82% below the sector average81.82% below the sector average81.82% below the sector average81.82% below the sector average81.82% below the sector average
Growth
91.43% below the market average91.43% below the market average91.43% below the market average91.43% below the market average91.43% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average

What The Brokers Say

Strong Buy 0
Buy 0
Neutral 6
Sell 0
Strong Sell 1
Total 7
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Cobham Dividends

  Latest Previous
  Interim Interim
Ex-Div 10-Oct-19 06-Oct-16
Paid 08-Nov-19 04-Nov-16
Amount 0.40p 2.03p

Trades for 11-Dec-2019

Time Volume / Share Price
17:12 2,504 @ 158.16p
17:11 37,496 @ 158.16p
16:38 11,137 @ 158.06p
16:36 186,678 @ 158.00p
16:36 129,049 @ 158.00p

Cobham Key Personnel

CEO David Lockwood
CFO David Mellors
Chair Jamie Pike

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