Cohort – 123.5p

13 December 2012 – interim report

Technology group Cohort has released half-yearly results for the six months to 31 October – these showed a decline in revenue to £33.8m (2011: £37.4m) and adjusted pre-tax profits of £3.37m (2011: £2.97m).  Earnings per share on the same basis were 25% higher at 6.97p (2011: 5.60p) and the interim dividend was increased by 20% to 1.2p (2011: 1.0p).  Net cash at the end of the period was £12.1m (30 April 2012: £14.1m) after paying the dividend and buying back shares of £1.2m.  These were good results and with a strong order book we rate the shares a BUY.

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