Business
Contract and Trading Update
Contract and Trading Update.
About this update from Cohort Plc
[{"type":"text","content":"\n RNS Number : 0440V Cohort PLC 27 October 2010 \n \n\n 27 October 2010 AIM: CHRT\nPRESS RELEASE\nCOHORT PLC (\"Cohort\")\nMASS in Preferred Bidder Team for Shepherd\nTrading Update - in line with Board Expectations\nCohort, the independent technology group, today announces a contract and trading update.\nMASS in Preferred Bidder Team for Shepherd\nCohort's wholly-owned subsidiary MASS Consultants Limited is part of the team selected as the preferred bidder for the UK MOD's Project Shepherd. This is the project formerly known as the Defence Electronic Warfare Centre (DEWC) Improvement Programme, a strategically important programme for MASS.\nIf awarded the contract, MASS's advanced data management system will be at the heart of a significant information management upgrade that Shepherd will provide for the DEWC.\nNegotiations on contract award are expected to take place over the coming months.\nTrading Update\n5 months to 30 September 2010\nIn relation to trading in the current financial year ending 30th April 2011, Cohort's performance has so far been satisfactory. In the first five months of the financial year MASS performed strongly and SCS returned to profitability following its major restructuring This has offset a disappointing performance at SEA due to slower than expected order intake. At the end of September the Group had net funds of £1.5m (30 September 2009: £0.5m) and an order book of around £110m (30 September 2009: £54m).\nStrategic Defence and Security Review\nThe Board's initial analysis of the government's Stra...