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magazine3: Profit warnings by Cobham
Aerospace and defence outfit Cobham (COB) saw another 20% wiped off its share price after a third profit warning in less than 12 months.
Weakness in Cobham’s maritime and satellite communications unit and delays to contracts in its refuelling gear business saw profit expectations downgraded in the region of 10% by analysts.
Around a third of the entire UK-listed sector delivered profit warnings in the three months to 30 June 2016, according to research produced by Ernst & Young.
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