Cobham posts 9.5 pct rise in FY profits to 182.9 mln stg, says outlook positive |
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Published
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Thu, 15 Mar 2007 08:40
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LONDON (AFX) - Aerospace engineer Cobham PLC said the outlook in defence and civil aerospace markets is positive as it announced a 9.5 pct rise in FY underlying pretax profits to 182.9 mln stg from 167 mln previously.Cobham said the overall outlook for US defence budgets remains positive and the commercial aerospace industry is entering 2007 with strong underlying delivery fundamentals already established.Air traffic growth remains the core driver for the commercial aerospace cycle and current overall growth is estimated to be 4.8 pct a year during the next 25 years, although there are wide variations within that figure due to differences between high growth economies such as India and mature markets such as the US.The group said it would continue to seek acquisitions that are a strong fit with its strategy. Cobham's order book rose 5.5 pct to a record 1.4 bln stg and the full-year recommended dividend per share lifted 10 pct to 3.75 pence.philip.waller@thomson.compaw/nesCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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