Panjang
Cobham progress stopped by general stocks weakness
COB Cobham News
· Revenue 6% higher, benefiting from favourable currency translation. Organic5 revenue growth of 1%
· Underlying operating profit of £210.3m, slightly ahead of expectations
· Progressing delivery on the onerous contracts provided for in 2016, including KC-46, although risks and challenges remain
· Strong free cash flow generation as a result of management focus, later phasing of 2016 onerous contract cash flows, lower capital expenditure and £27m of advance customer receipts
· More resilient Balance Sheet with year-end gearing ratio at 1.3x and US$545m revolving credit facilities refinanced for five years or over
· Agreed divestment of AvComm and Wireless test and measurement for US$455m in cash; transaction will increase focus, reduce risk and further strengthen Balance Sheet
· Unchanged expectations for 2018 before divestment and currency translation
Analysis - I think if stocks return to their rally we could se a test of the top of this range near the 150p mark - but this is dependant on the bull market returning.
· Revenue 6% higher, benefiting from favourable currency translation. Organic5 revenue growth of 1%
· Underlying operating profit of £210.3m, slightly ahead of expectations
· Progressing delivery on the onerous contracts provided for in 2016, including KC-46, although risks and challenges remain
· Strong free cash flow generation as a result of management focus, later phasing of 2016 onerous contract cash flows, lower capital expenditure and £27m of advance customer receipts
· More resilient Balance Sheet with year-end gearing ratio at 1.3x and US$545m revolving credit facilities refinanced for five years or over
· Agreed divestment of AvComm and Wireless test and measurement for US$455m in cash; transaction will increase focus, reduce risk and further strengthen Balance Sheet
· Unchanged expectations for 2018 before divestment and currency translation
Analysis - I think if stocks return to their rally we could se a test of the top of this range near the 150p mark - but this is dependant on the bull market returning.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.