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Investing.com -- Shares in Cohort (LON:CHRT) jumped 9% in London trading Wednesday after the company reported better-than-expected earnings and revenue for the full-year 2025 (FY25).
The British technology group reported a revenue of £270 million, above the consensus of £245 million.
Adjusted earnings per share (EPS) came in at 54.44p, around 18% ahead of the 46.1p forecast, largely due to a lower tax charge.
Adjusted EBIT was broadly in line at £27.5 million.
The order book rose 19% year-on-year to £616 million, equivalent to 2.3 times annual sales—well above the long-term average of 1.6x. Order intake for the year totaled £285 million, up 12% excluding a large Royal Navy award.
Order cover improved to 85%, compared to 79% at the end of FY24.
"Encouraging to see that order cover has increased to 85%, up from 79% at year-end (30 April)," said RBC Capital Markets analyst Ben Pfannes-Varrow in a note.
"Order cover remains well above long-term averages, with scope for continued upgrades on incremental order wins, stronger execution and optionality from M&A," he added.
Looking ahead, sales and adjusted EBIT guidance for FY26 remain unchanged, despite the disposal of a small transport unit.
However, adjusted EPS is expected to come in ahead of previous expectations, again supported by a lower tax rate. Cohort continues to see a strong pipeline, with the potential for around 10% earnings growth over the next two years.
Net debt is forecast to be between £10 million and £15 million in FY26.