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For the year ended 30 April 2010
| 2010 | 2009 | |
|---|---|---|
| Restated | ||
| Revenue | £78.1m | £76.7m |
| Adjusted operating profit | £4.1m | £6.3m |
| Adjusted profit before tax* | £4.0m | £6.0m |
| Profit before tax | £2.7m | £4.6m |
| Net funds | £3.0m | £3.7m |
| Adjusted earnings per share* | 8.10 pence | 12.83 pence |
| Proposed final dividend per share | 1.4 pence | 1.2 pence |
| * | Excludes exceptional items, amortisation of other intangible assets and share of results of joint ventures. |
The figures for the year ended 2009 have been restated to take account of the prior year overstatement.
Commenting on the results, Nick Prest CBE, Chairman of Cohort plc said: "Cohort has come through a difficult year, closing with a record order book of more than £112m which provides a basis for a recovery in profitability. The Board is focused on improving operational performance so that the Group can take advantage of emerging opportunities."
"The proportion of Cohort's business being derived from outside the UK defence market (principally export defence, space and transport) is increasing and the Board's view is that the Strategic Defence and Security Review can provide opportunities for nimble, cost effective companies such as Cohort. We expect to be able to trade satisfactorily through the review period and grow our business when the landscape becomes clear."
