Cohort enjoys record results as order book hits new high

By the Editorial Team · Thursday, July 16, 2026

Cohort, a UK defence technology firm, reported a 13 percent revenue increase to £306 million for the year ending April 30, driven by rising demand from NATO allies and the Australasian region despite reduced UK MoD spending. Operating profits surged 32 percent to £36 million, supported by growth in its cyber intelligence division and a new Australian acquisition, while the company also raised its dividend by 10 percent, continuing two decades of consecutive increases.

Cohort, a UK-based defence technology group, has reported strong financial results for the year ending April 30, driven by heightened demand amid geopolitical tensions and cybersecurity concerns in Southeast Asia. The company, valued at approximately £600 million and listed on the AIM stock exchange, recorded a 13 percent increase in revenues, reaching £306 million.

While income from the UK Ministry of Defence (MoD) declined as a proportion of total revenues—from 50 percent to 40 percent—due to delays in the government’s defence investment plan, the shortfall was offset by increased business from NATO allies, particularly Germany, as well as defence ministries in the Australasian region. New orders climbed 10 percent to £314 million, pushing the group's order book to a record high of £616 million.

Operating profits before exceptional charges and accounting adjustments rose sharply by 32 percent to £36 million. A significant contributor to this growth was Cohort’s MASS Cyber and Intelligence unit, headquartered in Cambridgeshire, which accounted for nearly one-third of operating profits. The company’s latest acquisition, located in Brisbane, Australia, specializes in satellite communications technology for the Australian Navy.

Cohort’s portfolio includes cybersecurity, intelligence, and electronic warfare services to the MoD and armed forces. It also manufactures naval hardware such as torpedo launchers, pyrotechnic missile defence systems for surface vessels, underwater sonar arrays for submarine detection, and technologies designed to counter and neutralize attacking drones.

The company announced a 10 percent increase in its dividend, raising the payout to 17.9 pence per share, marking 20 consecutive years of dividend growth. Over the past two and a half years, Cohort’s shares have experienced substantial appreciation, doubling twice and peaking at £17.48 before closing at £12.88 the previous day.

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