Cobham gets closer to Boeing

Cobham, the aerospace engineering specialist, which has developed close links with Airbus Industries, wants to do the same with Boeing. Gordon Page, its chief executive, believes the firm has enhanced prospects now that it has a team inside the US aerospace giant, working on the fuel system for Boeing’s contender for the X32 Joint Strike […]

Cobham, the aerospace engineering specialist, which has developed close links with Airbus Industries, wants to do the same with Boeing.

Gordon Page, its chief executive, believes the firm has enhanced prospects now that it has a team inside the US aerospace giant, working on the fuel system for Boeing’s contender for the X32 Joint Strike Fighter (JSF) contract. `The experience our team gets should stand us in good stead with Boeing for more work, whether or not it wins the JSF contract,’ said Page.

He is keen to develop business with Boeing’s civil programme which accounts for 60% of the world’s commercial fleets.

Page was commenting after 1996 results showed profits up 47% at £43.7m and earnings per share up close to 25% at 32.6p.

The shares, which soared 30% last year, added a further 8% on the massive order book – up 75% year on year at £605m.

This includes Cobham’s 33% share of the £500m Ministry of Defence Helicopter Flying School contract and work on the Nimrod 2000 aircraft which is potentially worth £100m.