January 11, 2017 / 7:17 AM / 7 months ago

British engineer Cobham misses profit target, scraps dividend

LONDON, Jan 11 (Reuters) - British engineering group Cobham said it made 245 million pounds ($298 million) in trading profit in 2016, at least 10 million pounds short of its target, and as a result of poorer than expected trading would scrap its final dividend.

The company said its new management team was starting a thorough closing balance sheet review, including major contracts and asset carrying values, but that the unaudited result was not likely to increase in its final numbers.

$1 = 0.8230 pounds Reporting by Paul Sandle; editing by Kate Holton

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