5th Jan 2022 10:06
(Alliance News) - Concurrent Technologies PLC on Wednesday said it expects its 2021 results to beat market forecasts, shaking off global supply chain challenges.
The embedded computer products manufacturer also expects to pay a final dividend. Concurrent's interim payout amount to 1.15 pence. Its total payout for 2020 was 2.55p.
Concurrent expects to report revenue and profit slightly ahead of market expectations. This is despite "ongoing challenges that the worldwide component supply chain is experiencing".
In 2020, Concurrent posted pretax profit of GBP2.8 million, on revenue of GBP21.1 million.
"Whilst the component issues are ongoing, the company enters 2022 with a robust order book and an exciting pipeline of innovative product releases to grow our customer base and revenues in 2022 and beyond," the company explained.
The Essex-based firm's shares surged 11% to 89.00p each on Wednesday morning in London.
By Elizabeth Winter; [email protected]
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