Cohort has announced a new export contract for MASS as well as a minor delay to completing the EID acquisition in Portugal due to process issues. The latter may lead to some modest trade-off between current-year contribution and net assets acquired, but is essentially a timing issue. The additional work for MASS underpins current-year prospects, which should further support sentiment at the half year. The share price has continued to perform well, edging up to our current fair value of 395p.
