Cobham Final Results 2011/12 - dividend boosted 33%

PRELIMINARY RESULTS FOR THE YEAR ENDED 31 DECEMBER 2011

Commenting on the results and outlook, John Devaney, Executive Chairman, said:

"We have achieved modest organic growth in our core businesses and 13% underlying EPS growth at constant translation exchange rates, driven by efficiency savings from the Excellence in Delivery programme and good cost control. Conditions in our markets, including the positive trend in our export and commercial markets are expected to continue in 2012.  The Board expects to achieve some underlying progress this year, before the full year net impact of the Analytic Solutions divestment and the share buy-back.

"We have made significant steps towards focusing the portfolio on markets where we have technical differentiation and leading positions and we have received some very important, long term awards, building on our attractive market positions. Excellence in Delivery has achieved real operational improvements and better-than-expected efficiency savings and we have a strong balance sheet and a highly cash generative business model, giving us the flexibility to examine attractive acquisition opportunities and increase shareholder distributions. The US Government has confirmed defence and security priorities that favour Cobham and has made some progress in reconciling these to budgetary imperatives. The continued delivery of the strategy gives the Board confidence that we will continue to make progress over the medium term."

7 March 2012