In a statement to accompany today's AGM, Cohort reports that trading in the year to date has been consistent with the Board's expectations; the FY27 outlook remains unchanged, with the customary H2 earnings weighting.
Research on Cohort plc (CHRT:LON) from Equity Development.
This builds on the 'robust platform' of record year in FY26 for revenue (GBP306m) and adjusted operating profit (GBP36.3m), with a record closing order book of GBP618.8m.
The Group reports a mid-September order book of c.GBP700m which underpins nearly 90% of current market consensus revenue expectations for FY2027 and continues to see good prospects for further order intake.
Growth momentum also supports the goal of a mid-teens adjusted operating margin. For FY28 we estimate 13.2%.
Backed by a strong FY26 and maintained momentum in FY27, we reiterate our 2,150p Fair Value.
