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Cohort wins UK defence contract
A rise in profits and a contract win have helped defence technology group Cohort narrow what its chief executive sees as the unjustified gap between its share price and the company’s real value. Pre-tax profits in the year to 30 April climbed to £4.9m from £4m the previous year even as revenues slipped to £65.1m from £78.1m. The full-year dividend was lifted to 2.4p from 2.05p. Cohort, which makes systems and software for and provides advice and services to the defence and other sectors, said it exited some unprofitable markets during the period.