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Cohort subsidiary MCL secures £17.9m of contract wins
(Sharecast News) - Cohort announced on Friday that a subsidiary had secured new contract wins worth £17.9m, strengthening order book visibility and underpinning revenue expectations for the current financial year. The AIM-traded group said Marlborough Communications was awarded a £14m contract by a UK government customer for the immediate delivery of uncrewed air systems, alongside two years of in-service support.
Under the contract, MCL would work with its long-term partner Skydio to supply the systems.
In addition, MCL received a further £3.9m order to provide tactical audio systems for a UK customer.
Chief executive Andrew Thomis said the awards reflected the strength of MCL's customer relationships and technical capability.
"These valuable orders demonstrate the strength of MCL's relationships with its UK customers," he said.
"Its highly skilled and knowledgeable team has a proven track record of combining the latest innovations in technology with expert engineering to meet urgent defence needs."
Thomis added that the contracts improved earnings visibility across the group.
"These latest contracts, combined with other recent orders across the group, further enhance our order book and the visibility of future revenues.
"Sufficient orders have now been secured to underpin fully the Group's 2025/26 financial year consensus forecast revenue."
At 0936 GMT, shares in Cohort were up 1.02% at 1,190p.
Reporting by Josh White for Sharecast.com.
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