Cobham released its FY results, a few weeks after its last profit warning which had already given almost all the negative news (i.e. some impairments and exceptional charges). Today the company announced what we were expecting, a £500m rights issue to strengthen the balance sheet. Finally, and as was also expected, the company will not distribute any dividend in 2017 considering the low cash flow generation, the really uncertain outlook for 2017 and the remaining issues it faces.
