2nd Sep 2015 07:44
LONDON (Alliance News) - Concurrent Technologies PLC, which designs and manufactures computer products for the defence and aerospace sectors among other industries, on Wednesday said it doesn't expect its performance in the second half to match the first after reporting a leap in profit in the opening six months of 2015.
Pretax profit increased to GBP1.6 million in the six months ended June 30, compared with GBP424,338 in the corresponding half the prior year, with results being "significantly ahead" of the company's previous expectations.
Revenue rose to GBP9.6 million from GBP5.6 million, which together with improved margins more than offset an increase in net operating expenses to GBP3.1 million from GBP2.3 million.
"Our order book is robust, our cash position remains strong and, while our second half performance is not expected to match the first half, we look forward to a satisfactory outcome for the remainder of this year. Continued investment in the Group's diverse and expanding product range and customer base should continue to deliver solid results in the future," Chairman Michael Collins said in a statement.
The company increased its interim dividend per share to 0.70 pence from 0.65p.
Shares in Concurrent Technologies were up 0.4% at 63.75 pence on Wednesday morning in London.
By Samuel Agini; [email protected]; @samuelagini
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