Cobham Shares Plummet After Aerospace Firm Warns Investors

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Shares in aerospace and defence firm Cobham - one of the partners in the consortium supplying the RAF with new tanker aircraft - fell sharply yesterday after it warned shareholders its margins in aerospace would be at the bottom of earlier forecasts.

The firm, which pioneered air-to-air refuelling systems, said it expected margins in Aerospace Systems to be around the bottom end of previous guidance of 16 to 20 per cent, blaming costs from the ongoing development of a fuel pump system for Airbus' A380 superjumbo which is due for first deliveries in 2006.

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Cobham Shares Plummet After Aerospace Firm Warns Investors

It added that the weak US dollar would also cut group margins by half a percentage poi...

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