Concurrent Technologies (LON: CNC), the AIM-listed maker of high-end embedded computing systems for defence and aerospace, told markets earlier today that it now expects full-year revenue and profit to beat analyst forecasts, after record first-half revenue, profit and order intake.
Shares in the Colchester-based group rose to around 275p in early trade, up from Friday’s close of 265p, having touched 285p intraday, after interim results published before the market opened.
Revenue for the six months to 30 June rose 10% to £23.2m, with pre-tax profit up 19% to £3.2m. Order intake, the value of new orders won in the period, more than doubled to £46.9m, already matching all of the prior full year.
Ready to put what you’ve learned into practice?
Try IG’s platform with £10,000 in virtual funds and practise trading
without putting your own money at risk.
Try IG with a demo account →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Learn the markets with IG Academy
Build your knowledge with IG Academy educational content, then use a
demo account to practise what you’ve learned on the IG platform.
Explore IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
See how trading works before risking real money
IG’s demo gives you access to thousands of markets and £10,000 in
virtual funds, so you can explore the platform and test your ideas first.
Open an IG demo →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Turn trading theory into practical experience
Learn with IG Academy, explore charts and market tools, and practise
strategies in a simulated trading environment before going live.
Start practising with IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Ready to take your learning further?
IG combines market education, analysis and an established trading platform,
giving you the tools to keep learning as you develop your trading skills.
Discover IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
The surge was driven by the group’s largest single contract to date, worth around £17m, signed in June with a long-standing European customer and covering four years of demand, plus a $9.4m US defence order confirmed after the period ended. Chief executive Miles Adcock said: “We have delivered another record first half, reflecting the continued execution of our strategy and the strength of demand for our high-performance computing solutions.”
The Systems division, built around the 2023 acquisition of Phillips Aerospace, turned profitable for the first time, with gross margin nearly doubling to 26.3%. Adcock called the division’s progress “particularly encouraging”, adding he expects “strong year on year progress in all aspects.”
Management now guides full-year revenue to be materially ahead and profit ahead of the £52m revenue and £8m profit consensus it had previously disclosed to the market. Adcock cautioned that order timing varies and flagged an unusually busy fourth quarter, while the company also expects second-half gross margin to dip as the low-margin early phase of the record European contract is recognised. CFO Kim Garrod is due to retire at the end of the year, with Emma Ciechan set to join as her successor in October.
