Cohort (CHRT)

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Cohort CHRT Logo

The independent technology group.

13-Dec-2017 – 317.5p – £130.0m – PER 10.5

Final Results For The 6 Months To End October 2017 – I picked this statement out “The Group’s first half results were slightly down on last year.  In recent years the Group’s results have been heavily weighted towards the second half and we expect this pattern to be repeated this year”.

Looks OK but at the end of the day it’s a low margin consultancy business. I am just not willing, at present, to accept the associated potential surprises here.

3-Jul-2018 – 365p – £149.5m – PER 11.9

Final Results For The 12 Months To End April 2018 – Revenue flat (£111.8m), Profits and EPS up about 7% with the Dividend up 15%. States in-line but looks like a slight miss here with the forward Order book confirmed at -25% on last year.

I’m no more interested here today than I was yesterday.

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