Concurrent Technologies Plc
(the “Company” or the “Group”)
Trading Update
Concurrent Technologies Plc (AIM: CNC), a designer and manufacturer of leading-edge computer products, systems and mission critical solutions used in high-performance markets by some of the world’s major OEMs, provides an update on trading for the six months to 30 June 2025 (“H1 FY25”).
Based on its unaudited management accounts for H1 FY25, the Company expects to report record results for a first half, with revenue of approximately £21.3m (H1 FY24: £16.8m) and profit before tax of approximately £2.4m (H1 FY24: £2.3m) despite the USD exchange rate having a c.£0.6m negative impact to profit relative to the same period last year. Order intake for the period remained strong at £22.3m (H1 FY24 £17.8m).
The Company continues to secure design wins, across both the Products and Systems business units, in line with the transformative performance of 2023 and 2024, further underpinning confidence in medium- and long-term growth, whereby a design win typically yields purchase orders two to three years later, often with a lifetime for seven-10 years thereafter.
The Board believes that the Company is well positioned to deliver full year results for 2025 in line with current market expectations*.
Miles Adcock, CEO of Concurrent Technologies, commented: “The Group has delivered a solid first half with record results for H1 FY25 revenue, profit, and order intake. The Products business unit continues to perform well, securing new strategic wins, and the Systems business is mobilising, reinforcing our confidence in good revenue generation for the full year. The latter is on track to nearing a break-even position, following planned up-front investment to support long-term growth in 2024.
“We are committed to bringing the latest technology to market as early as possible and are encouraged by the early success of our Kratos product, launched in the half, which remains unique in the market. It is currently the only computer board of its form factor to feature the industrial variant of the Intel® Xeon® 6 processor and is generating significant interest across our customer base.
“H2 FY25 has started well and while we remain mindful that, like all defence businesses, we do have some dependency on contracts from the US, where there is potential for headwinds associated with governmental reviews or global supply chain disruption, we are closely monitoring developments and remain on track to meet full-year expectations.”
*In so far as the Board is aware, consensus market expectations for FY25 are revenues of £43m and profit before tax of £6m.