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Cobham plots growth in 2015
DEFENCE contractor Cobham said it remained confident that it will return to growth in 2015, as cuts to US military spending lowered its profit by 14 per cent during the half year to 30 June.
Cobham’s profits fell to £118m during the period, beating analyst forecasts of £111m.
“The board continues to anticipate that Cobham can deliver mid-single digit organic revenue growth from 2015. This is expected to be underpinned by continued strong growth in commercial markets, a moderating rate of decline in the US defence/security market and increasing revenue from non-US defence/security markets,” said chief Bob Murphy.