Cobham is hit by delays on US contracts

first_img Show Comments ▼ More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com KCS-content DEFENCE company Cobham said continued delays in the award of US defence contracts would dent full-year sales and that it was uncertain about its growth prospects for the rest of 2010.Cobham, led by Andy Stevens, said in a trading update: “Given the uncertainty over growth in the fourth quarter, the board recognises that the group could make only limited underlying progress in the full-year.”Its share price went on a rollercoaster ride plunging 8.6 per cent to 213.8p on the news this morning before recovering to close 0.9 per cent up at 230p. The Dorset-based firm, which makes fuel tanks for F-16 fighter planes and weapons release systems for the Eurofighter Typhoon, warned of delays in August and May but still increased its interim dividend by 10 per cent and expressed some hope that trading would pick up. Cobham said that limited progress in the full-year would come largely as a result of cost savings, which would amount to around £10m.Revenues at its manufacturing divisions, which account for 87 per cent of its turnover, were also slightly down in the first nine months, Cogham said.However, it welcomed Britain’s move to beef up its cyber security following the strategic defence review and said its strong position in high technology defence and security markets “reinforces the board’s confidence of continuing progress over the medium term”. Cobham said its net debt decreased to £319m at the end of September compared to £373m in the three months to 30 June as a result of strong operating cash conversion in and favourable exchange movements. whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com whatsappcenter_img Share Wednesday 3 November 2010 9:38 pm Cobham is hit by delays on US contracts Tags: NULLlast_img read more