Full Year 2025 Cohort PLC Earnings Call Transcript
Key Points
- Cohort PLC (COHTF) reported record operating profit, revenue, and closing order book for the financial year ended April 2025.
- Revenue grew by 33%, and adjusted operating profit increased by 30%, with adjusted earnings per share up 27%, surpassing external expectations.
- The company achieved a strong order intake of GBP285 million, significantly exceeding recognized revenue, leading to a total order book of over GBP616 million.
- Operating cash flow was robust, exceeding profit and maintaining a positive net cash position despite expenditures on acquisitions and a new facility.
- The Board declared a final dividend of 11.05p per share, resulting in a total dividend increase of 10% compared to the previous year.
- MASS, the largest contributor to the group's profit, experienced a decline in performance due to customer-driven delays on large contracts.
- Chess faced operational and delivery challenges that significantly impacted profitability, despite strong demand for its products.
- SEA encountered problem projects that affected margins, even though it achieved record levels of revenue and profit.
- The integration of acquisitions, while generally smooth, requires ongoing attention to ensure continued positive contributions.
- The company faces competition within its divisions, which could impact future growth and profitability if not managed effectively.
Hello, I'm Andy Thomas, Chief Executive at Cohort PLC. I'm here to take you through our final results for the financial year ended in April 2025. I'm happy to say that overall, we've once again seen a very strong performance, record operating profit, record revenue, and a record closing order book.
That's the result of hard work and development of the business over a long time, and we're now showing real momentum. Here are the numbers. Revenue and profit both up strongly. Revenue grew by 33%. Adjusted operating profit was up 30%. Adjusted earnings per share grew 27% ahead of external expectations. We significantly beat our expectations for net funds. It was another good period for new orders which are of course the best leading indicator for future growth.
Order intake of GBP285 million significantly exceeded the revenue we recognized. So the total order book had grown to over GBP616 million at the year end. If we aim off to take account of the one-off large order from the Royal Navy in [2024, 5], orderp intake actually
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