1st Jul 2016 08:23
LONDON (Alliance News) - Concurrent Technologies PLC on Friday said it remains confident on the full year despite concerns caused by the fall of sterling.
Concurrent, which makes high-end embedded computer products, said it had conducted a review of its financial risk and trading plans following the fall in the value of sterling against the dollar following the UK vote to leave the European Union.
Concurrent said its exposure to exchange rate risk is still largely mitigated by its ability to offset receipts from sales against payments for purchases in the same currency, meaning natural hedging.
As a result, the outlook for 2016 remains positive, it said.
Concurrent shares were up 6.3% to 64.85 pence Friday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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