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  • Writer's pictureMark Watson-Mitchell

Cohort – sales order book is running quickly ahead

Despite Covid-19 this international technology group should have seen its order books expand over the first half.

By the end of August it was up to £210m, against the end April figure of £183.3m, and that first figure represents some 83% of the consensus current year expectations.

Furthermore, Cohort (LON:CHRT) also has a very good pipeline of additional business that its is currently working upon.

We shall get a good idea of the first half year’s trading when the company announces its interims to end October on Thursday 10 December.

Estimates for the full year to end April 2021 suggest that sales will be close to last year’s £131m, while pre-tax profits could well leap 80% to £17.6m, worth 33.5p per share in earnings.

Already views for 2022 look for £140m revenues, £20m profits and 38p of earnings per share.

This is a cracking £252m capitalised grouping, with its recent acquisition of Chess beginning to shine through in these results.

At 616p the shares are trading on only 18 times current year earnings and a mere 16 times prospective. For such advanced technology I would expect very much higher ratings coming through when the current year prospects are seen.

They were up to 738p in January this year, a level which could be seen again quite soon.

(Profile 06.08.19 @ 446p set a Target Price of 607p*)


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