Cohort plc (CHRT.L), a provider of various products and services in defense, security, and related markets, Wednesday reported profit before tax of 8.51 million pounds for the first half, higher than 3.67 million pounds in the same period a year ago, primarily driven by increase in UK Ministry of Defence sales.
Operating profit was 8.82 million pounds, up from 4.43 million pounds last year. Excluding one-time items, adjusted operating profit rose 69 percent year-over-year to 10.1 million pounds.
Net profit increased to 7.10 million or 17.34p per share from 3.02 million pounds or 7.44p per share a year ago, while adjusted earnings per share jumped to 20p from 10.36p.
Revenue for the period grew 25 percent to 118.24 million pounds from 94.30 million pounds in the previous year.
The Board has declared an interim dividend of 5.25p per share, up from 4.70p per share last year, payable on February 18 to shareholders on the register on January 10.
"In line with previous experience, we anticipate a stronger Group performance in the second half and remain on track to achieve our profit expectations for the full year, albeit on weaker revenue mix," the company said in a statement.
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