Cohort is recommending a final dividend of 9.15 pence per ordinary share (2022: 8.35 pence), making a total dividend of 13.40 pence per ordinary share (2022: 12.20 pence) for the year, representing a 10% increase. The dividend has been increased every year since the Group's IPO in 2006. It will be payable on 3 October 2023 to shareholders on the register at 25 August 2023, subject to approval at the Annual General Meeting on 26 September 2023.
Other financial highlights include:
• Record adjusted operating profit of £19.1m (2022: £15.5m) on record revenue of £182.7m (2022: £137.8m)
• Growth in both reporting divisions:
o Especially strong performance from within the Communications and Intelligence division, driven by significant uplift in UK MOD activity at MCL.
o Improved performance within Sensors and Effectors, with Chess delivering better operational performance.
• Net funds higher than market expectations at £15.6m (2022: £11.0m) with continuing robust cash generation.
• Dividend increased by 10%; the dividend has been increased every year since the Group's IPO in 2006.
