MoneyAM MoneyAM
 Home   Log In   Register   Our Services   My Account   Contact   Help 
 Stockwatch   Level 2   Portfolio   Charts   Research   Share Price   Awards   Indices   Market Scan   Company Zone   Traders' Room 
 Funds   Trades   Terminal   Alerts   Heatmaps   News   Stock Screener   Forward Diary   Forex Prices   Director Deals   Investors' Room 
 CFDs   Shares   SIPPs   ISAs   Forex   ETFs   Videos   Comparison Tables   Spread Betting   Broker Notes   Shares Magazine 
You are NOT currently logged in

 
Filter Criteria  
Epic: Keywords: 
From: Time:  (hh:mm) RNS:  MonAM: 
To: Time:  (hh:mm)
Please Note - Streaming News is only available to subscribers to the Active Level and above
 


Cobham warns

StockMarketWire.com

Cobham said group trading profit in the unaudited draft management accounts for the year ended 31 December was £245m, below the range of £255m to £275m set out in the update of 24 October.

The detailed year end close and audit was ongoing but is not expected to result in an increased trading profit.

The new management team is commencing a thorough closing balance sheet review, including major contracts and asset carrying values.

The trading profit disclosed above is before any adjustments that may arise from this review and, in particular, there is significant uncertainty surrounding the outcome of the KC-46 tanker programme.

Cobham remains in discussions with its customer on the commercial terms for the complex conformity and qualification phases of this contract, which are taking place concurrently with the early phase of production.

Story provided by StockMarketWire.com