cobham plc interim report 2003 pages fc 05 25 9 03 4 04 pm page i summary a leader in aerospace systems avionics and specialist air services announces another set of record first half results achieved demonstrate the strength diverse nature markets served by which has offset difficult trading conditions commercial electronics underlying operating profit is up only 2 6 compared to last year timing issues investment research development start costs for fr countermeasures inc have impacted we expect improvement full result enters second with demand strong range exciting new technologies contracts at aviation national jet will contribute ongoing success flight operations adding growth westwind returned profitability june july august cash generation remains gordon chairman commented these challenging market provide sound basis continued group s order book this supports expectations
