Flybe Flybe

Latest News

Cobham blames US budget for slow growth

March 4th, 2011 by David No Comments

London-based Cobham has blamed contracting US defence and security budgets for a slowdown in demand set to stymie revenue growth.

The defence components manufacturer posted pre-tax profits of £306m for 2010, up 4% from the previous year.

The firm’s chief executive Andy Stevens said a current freeze in US defence budget to 2010 levels will halt Cobham’s revenue growth in 2011 at the £1.63bn ($2.65 billion) made last year.

Cobham’s components formed a part of both the successful Boeing-led bid and the unsuccessful EADS proposal to supply the US Air Force with 179 KC-X future tanker aircraft.

Leave a Reply

Flybe Flybe
© 2010 Defence News