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Cohort PLC - Reading, England-based technology company serving defence and security sectors - Says subsidiary Systems Engineering & Assessment Ltd has won a £7 million contract to provide anti-submarine warfare capability on two vessels for the navy of an undisclosed South-East Asian state. SEA will partner with local subcontractors to install the new system, ensure knowledge transfer and conduct training. The contract will commence this month, and Cohort expects completion by the end of 2026. Chief Executive Andy Thomis says: ‘This contract is a significant win for SEA and will deliver a modern anti-submarine warfare capability with lower size, weight, and power requirements than traditional systems, and with lower through-life costs. It also expands the group’s presence in the strategically important Asia Pacific region. Together with other recent contract wins across the group, this contract further underpins our order book and enhances the visibility of future revenues.’ Current stock price: 500.48 pence, up 1.1% in London on Tuesday morning 12-month change: down 3.4% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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