18th Mar 2016 08:42
LONDON (Alliance News) - Concurrent Technologies PLC on Friday said its pretax profit surged in 2015, helped by a significant revenue rise as sales increased across its product lines.
Concurrent makes high-end embedded computer products for the defence, aerospace, telecommunications, transportation, scientific and industrial markets.
For 2015, pretax profit grew 59% to GBP2.7 million from GBP1.7 million a year earlier, as revenue rose 34% to GBP17.1 million from GBP12.8 million. Concurrent will pay a 1.2 pence final dividend, up from 1.15p, taking its total dividend up to 1.9p from 1.8p.
The firm said it saw success in sales associated with telecommunications base-station test equipment in the year, along with a near-doubling of sales of products for scientific applications.
Sales in the first months of 2016 have continued the momentum and the group expects strong performance for the first half.
"Our objective remains to design more innovative products for complex, high technology, low to medium volume and high margin applications, including versions for use in harsh environments," said Chairman Michael Collins.
"Work has already started on the next generation of high performance processor boards and we continue to advance the capabilities of these products with new and complementary software and firmware packages providing security and high-speed data transfers together with simple integration," he added.
Concurrent shares were up 7.1% to 71.25p on Friday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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