Cobham reveals European ambitions

Cobham is looking to play a "pro-active" role in the consolidation of the European defence industry and hopes the proposed sale of the French government's 58 per cent stake in Thomson-CSF will provide spin-off opportunities. Gordon Page, chief executive, said after announcing a surge in the company's annual pre-tax profits from pounds 29.8m to pounds 43.7m: "I wish it was as easy to do business in Europe as it is in the US."

Investment column, page 24