REG - Cohort PLC - Contract Win

CohortAnnouncement

26/03/2024 07:00

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RNS Number : 2375I  Cohort PLC  26 March 2024

 One Waterside Drive

 Arlington Business Park

 Reading

 Berks

 RG7 4SW

 26 March 2024

 

 

COHORT PLC

("Cohort", "the Company" or "the Group")

 

 

SEA Awarded £135m Royal Navy Countermeasures Contract

 

Cohort, the Independent Technology Group, is pleased to announce that its
subsidiary Systems Engineering and Assessment Ltd (SEA) has been awarded a
contract by the UK's Ministry of Defence to provide Electronic Warfare
Countermeasures Increment 1a (EWCM 1a) to the Royal Navy.

 

The scope of work will include the provision and support of SEA's Trainable
Decoy Launcher System, known as Ancilia, which also incorporates technology
and hardware from Cohort's business Chess Dynamics Ltd. The total value of the
contract to SEA is to be at least £135m. Work will commence immediately and
is expected to continue for more than ten years. The contract includes a
number of options which may increase its value and the period over which it
will be delivered, subject to future decisions by the customer. Together with
other recent order wins, the contract is expected to materially enhance the
Group's earnings.

 

Ancilia delivers effective and rapid protection against modern anti-ship
threats and sophisticated systems and tactics. It will be installed across a
range of the Royal Navy's surface ships. Its design builds on SEA's deep
knowledge of existing systems in service with the Royal Navy.

 

Andy Thomis, Cohort Chief Executive, said:

 

"This is a significant win for SEA and the Group, and the project will deliver
greatly enhanced protection for the Royal Navy's surface ships against new and
potent threat technologies.

 

"It represents a real vote of confidence in Ancilia, a fully UK designed and
built solution, for which we see encouraging export prospects.

 

"Over the life of the project, we estimate it will sustain employment for 150
skilled and professional people in North Devon, and export success could see
this increase further still."

 

 

Andy Thomis, Chief Executive, and Simon Walther, Finance Director, will host a
short presentation for analysts and investors on Tuesday 26 March at 3:00pm.
To join please follow the link here: https://brrmedia.news/CHRT_MA
(https://brrmedia.news/CHRT_MA) .

 

 

 

ENDS

 

 

 

For further information please contact:

 Cohort plc                                                           0118 909 0390
 Andrew Thomis, Chief Executive
 Simon Walther, Finance Director
 Emily McBride, Group Head of Marketing and Corporate Communications
 Raquel McGrath, Company Secretary

 Investec Bank Plc (NOMAD and Broker)                                 020 7597 5970
 Carlton Nelson, Christopher Baird

 MHP                                                                  020 3128 8100
 Reg Hoare, Ollie Hoare, Hugo Harris                                  cohort@mhpgroup.com (mailto:cohort@mhpgroup.com)

 

 

NOTES TO EDITORS

 

Cohort plc (www.cohortplc.com (http://www.cohortplc.com/) ) is the parent
company of six innovative, agile and responsive businesses based in
the UK, Germany and Portugal, providing a wide range of services and
products for domestic and export customers in defence and related markets.

 

Cohort (AIM: CHRT) was admitted to London's Alternative Investment Market in
March 2006. It has headquarters in Reading, Berkshire and employs in total
over 1,250 core staff there and at its other operating company sites across
the UK, Germany, and Portugal.

 

The group is split into two segments - Communications and Intelligence, and
Sensors and Effectors:

 

Communications and Intelligence

 

 ·      EID designs and manufactures advanced communications systems for
 naval and military customers. Cohort acquired a majority stake in June
 2016.  www.eid.pt (http://www.eid.pt/)

 ·      MASS is a specialist data technology company serving the defence
 and security markets, focused on electronic warfare, digital services, and
 training support.  Acquired by Cohort in August 2006. www.mass.co.uk
 (http://www.mass.co.uk/)

 ·      MCL designs, sources, and supports advanced electronic and
 surveillance technology for UK end users including the MOD and other
 government agencies. MCL has been part of the Group since July
 2014. www.marlboroughcomms.com (http://www.marlboroughcomms.com/)

 

 

Sensors and Effectors

 

 ·      Chess Dynamics offers surveillance, tracking and fire-control
 systems to the defence and security markets. Chess has been part of the Group
 since December 2018. www.chess-dynamics.com (http://www.chess-dynamics.com/)

 ·      ELAC SONAR supplies advanced sonar systems and underwater
 communications to global customers in the naval marketplace.  Acquired by
 Cohort in December 2020.  www.elac-sonar.de (http://www.elac-sonar.de/)

 ·      SEA delivers and supports technology-based products for the defence
 and transport markets alongside specialist research and training
 services. Acquired by Cohort in October 2007. www.sea.co.uk
 (http://www.sea.co.uk/)

 

 

Note: No statement in this announcement is intended as a profit forecast,
profit estimate or quantified benefits statement for any period and no
statement in this announcement should be interpreted to mean that earnings or
earnings per share for Cohort for the current or future financial years would
necessarily match or exceed the historical published earnings or earnings per
share for Cohort.

 

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