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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Cobham plc    COB   GB00B07KD360

COBHAM PLC

(COB)
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Cobham : wins FIFO contract with Alliance Mineral Assets Limited

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04/10/2019 | 05:58am EDT

Cobham Aviation Services has commenced fly-in, fly-out services for Alliance Mineral Assets.

PERTH, Australia - Cobham Aviation Services has secured its first contract with Australian mining company, Alliance Mineral Assets Limited (Alliance Minerals), to provide fly-in, fly-out (FIFO) services for the company's Bald Hill lithium and tantalum mine.

Under the two year contract, Cobham is now providing two return flights a week between Perth and Kalgoorlie.

Cobham Aviation Services Vice President of Regional Services, Dean Brennan said the contract win reflects Cobham's continued competitive offering within the FIFO environment.

'It is fantastic to welcome a new customer and a new resource to our growing portfolio. Lithium in particular has been in high demand in recent years with the rise of electric vehicles and more sustainable transport solutions. We are seeing more and more mining companies exploring this resource which is used in batteries to store clean energy. We are pleased to support the growth of this sector in Western Australia,' Mr Brennan said.

Mark Calderwood, Managing Director of Alliance Minerals commented: 'We are very pleased to partner with Cobham to provide a more cost effective FIFO solution that reduces shift change-over times and increases productivity for our workforce as we continue to ramp up production and expand our operation at Bald Hill.'

Cobham has provided safe, reliable and efficient aviation services to the mining and resource sector in Australia for more than 25 years.

About Cobham Aviation Services Australia

Reliable and cost-effective aviation services for defence, government and commercial customers.

Cobham Aviation Services is the largest provider of contract aviation services in Australia. We conduct closed charter (fly-in, fly-out), passenger transport, freight, search and rescue, and airborne surveillance and surveying operations for defence, government and commercial customers. Our in-house engineering capability supports our fleet and enables us to combine state-of-the-art technology with complex air platforms to deliver customised special mission solutions.

About Cobham plc

Cobham offers an innovative range of technologies and services to solve challenging problems in commercial, defence and security markets, from deep space to the depths of the ocean.

About Alliance Mineral Assets Limited

Alliance Minerals is a dual listed (ASX and SGX Catalist) company which commenced lithium concentrate production at its flagship project, the Bald Hill Lithium and Tantalum Mine (Bald Hill Mine) in March 2018. The Bald Hill Mine boasts production of a premium lithium concentrate, low in magnesium, iron, mica and other deleterious materials, making it highly sought after by lithium convertors

Media enquiries:

Amy Weber

Cobham Aviation Services

Corporate Communications

P: +61 (0) 8 8154 5606

cavs.communications@cobham.com

Disclaimer

Cobham plc published this content on 10 April 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 10 April 2019 09:57:09 UTC

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Financials (GBP)
Sales 2019 1 944 M
EBIT 2019 218 M
Net income 2019 85,5 M
Debt 2019 57,4 M
Yield 2019 1,11%
P/E ratio 2019 34,6x
P/E ratio 2020 25,3x
EV / Sales2019 1,49x
EV / Sales2020 1,39x
Capitalization 2 831 M
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Mean consensus OUTPERFORM
Number of Analysts 16
Average target price 1,26  GBP
Last Close Price 1,19  GBP
Spread / Highest target 26,2%
Spread / Average Target 6,02%
Spread / Lowest Target -9,97%
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Managers
NameTitle
David C. Lockwood Chief Executive Officer & Executive Director
Michael Peter Wareing Non-Executive Chairman
Chris Shaw Chief Operations Officer
David Anthony Mellors Chief Financial Officer & Executive Director
Alison J. Wood Independent Non-Executive Director
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