Cohort shares jump 5.8% after Polish submarine contract

Shares in Cohort PLC surged 5.8% on Tuesday after the company announced a contract valued at up to €1.6 billion to supply three submarines to Poland.

The agreement, disclosed through a London Stock Exchange filing, marks a significant expansion for Cohort’s naval defense operations. Under the terms, the contract includes the delivery of the submarines, associated systems, and potential maintenance services over an undisclosed period. The deal follows Poland’s recent push to bolster its naval capabilities amid regional security concerns.

The news triggered a sharp rise in Cohort’s stock, which closed 5.8% higher at 410 pence, outpacing the broader FTSE 250 index. Analysts attributed the gains to the contract’s scale and its alignment with Poland’s defense modernization plans.

Cohort, a U.K.-based defense and security group, has not provided further financial details regarding the contract’s revenue recognition or delivery timelines. The company’s shares have gained roughly 15% over the past month, reflecting investor optimism surrounding its defense pipeline.

The contract win underscores Poland’s increasing defense spending, which has risen by over 30% in real terms since 2022, according to NATO estimates.