On the back of a record year of revenue and profit performance from Cohort, netting an 11% rise in operating profits and revenue over last year, Cohort’s EID subsidiary company has been awarded a €33m ($36m) Nato contract to supply the Portuguese Army with a Tactical Deployable Communication and Information System (TDCIS).
The Nato contract was awarded on 16 July 2024, and will deliver a modern communications technology system that is interoperable with Nato Allies.
“Together with recent contracts to provide its Integrated Communications System to Damen for the Portuguese Navy´s Multi-Purpose Vessel (MPV) and to the Chilean Navy, this win takes EID’s order intake to over €45m in the last 4 months,” said Andy Thomis, Cohort Chief Executive.
Unaudited preliminary financial results for Cohort for the year ending April 30 were announced on 17 July, and saw and order intake of £392.1m ($509.7m), up from £220.9 in 2023. This includes a £135m Royal Navy contract awarded to Sea in March 2024.
Regarding the 11% increase in both profit and revenue, Cohort attribute this to robust growth in their Sensors and Effectors segment, as well as improved performance for its SEA and Chess companies.
“We are reporting another strong performance for Cohort with improved revenue, profit and net funds, and one that has exceeded expectations. Our order book surpassed £500m for the first time and provides a solid foundation for the future,” said Nick Priest CBE, Chairman of Cohort plc.
Priest went on to say that Cohort’s interest in the Land domain are seeing increased demand for drone and counter drone systems, driven by the Ukraine conflict, but noting that the attacks in the Red Sea have shown that drone defence is not only needed in the land environment.
He also noted that the revenue of ELAC SONAR are, having achieved an important milestone with the order for a third Italian submarine sonar system.
