Concurrent Technologies flags record first-half results

(Sharecast News) - Concurrent Technologies said on Monday that it expects record first-half results, with revenue rising to about £23.1m from £21.1m and pre-tax profit increasing to roughly £3.3m from £2.7m. Order intake more than doubled to £46.9m, supported by demand across key markets and a £17m multi-year order from a European customer.

The AIM-traded group said design wins secured during the period carried an estimated lifetime value of £129m, while its Colchester expansion remains on track to double production capacity from the third quarter.

Chief executive Miles Adcock said record first-half performance reflected "the continued strength of demand across our key markets" and left the company well positioned to deliver at least in line with full-year market expectations.

At 1312 BST, shares in Concurrent Technologies were flat at 0% at 250p.

Reporting by Josh White for Sharecast.com.

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