Cohort subsidiary secures three new contracts

Independent technology group Cohort said on Wednesday that one of its subsidiaries had been awarded three new contracts with UK and European customers.

Cohort said subsidiary Chess Dynamics' new contracts, across its naval, land and custom business areas, had a combined value of approximately £16.0m.

The AIM-listed group added that initial work would commence in the current financial year, with deliveries set to take place from 2021 through to 2028.

Chief executive Andy Thomis said: "These contracts further demonstrate Chess's leading technological capability in ground-based air defence, naval surveillance and high accuracy tracking and builds its export position.

"Together with other recent contract wins at Chess and across the group, this announcement further demonstrates the visibility of our medium and long-term revenues."

As of 1000 BST, Cohort shares were down 0.96% at 564.53p.