Cobham reported mixed FY 17 results with a strong cash flow generation despite weak income statement figures. While the company was expecting 2017 to be the bottom in its performance, it reported strongly growing FCF thanks to a tight working capital management and lower interest charges. Organic revenues grew by 1%, while the operating margin dropped from 11.6% to 10.2%. Cobham keeps its expectations unchanged for FY18 but the divestment might affect the performance.
