LONDON (Reuters) - British engineer Cobham (L:COB) maintained its 2014 guidance for organic revenue decline in the low-to-mid single digits, with a return to growth pencilled in for next year when U.S. defence cuts moderate and other markets pick-up.
Cobham said on Thursday that trading in the first nine months of the year had been in line with expectations and its plan to reduce costs continued.
The company completed the acquisition of Aeroflex, a U.S. communications equipment company in September, in a move which it said would give it greater exposure to markets outside of defence, and help underpin its return to growth in the mid-single digit range next year.
(Reporting by Sarah Young; editing by Kate Holton)