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Trading statements

Cobham in line with forecasts

27 April 2017 07:39

Cobham's trading performance in the first quarter was in line with the board's expectations.

But the group said that Q1 had become a relatively small proportion of the overall results for the year, given the historic trading bias towards June and December.

It said that as previously announced, the group was in the early stages of enhancing operational and financial discipline, prioritising control and execution, customer focus, leadership and simplification.

The group said it had also started its review of the breadth and shape of its portfolio and expected to provide an update to the market in its interim results expected to be published on 3 August.

Looking ahead, it said: "Overall, the board's expectations for group performance this financial year remain unchanged and it reaffirms the previous guidance for 2017 as set out in the preliminary results published on 2 March 2017 and the rights issue prospectus dated 28 March 2017."

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