By Anthony O. Goriainoff
Cohort PLC said Monday that the delays to certain aspects of its work which it highlighted in July have persisted, and that it expects its performance for fiscal 2022 to be slightly ahead of fiscal 2021.
The London-listed independent technology group said the underlying causes to these delays include extended negotiations with customers as well as the various Covid-19 restrictions on travel, work and social interaction. They are also due to global supply-chain challenges stemming from the pandemic.
The company said it entered fiscal 2022 with a substantial long-term order book of 242.4 million pounds ($333 million), and that this underpins almost GBP100 million of revenue for the fiscal year. It added that as at Sept. 16, the order book stood at just under GBP300 million, and that revenue cover stood at 82%. The company's fiscal year ends on April 30.
"We remain optimistic that the group will return to a higher rate of growth in 2023-2024, based on current orders for long-term delivery and our strong pipeline of opportunities," the company said.
Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com
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September 20, 2021 at 01:57PM
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Cohort Warns of Continued Delays; Expects Slightly Improved FY 2022 Performance - MarketWatch
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