11th Jun 2026 11:19
(Alliance News) - Concurrent Technologies PLC on Thursday announced it won a contract from a "major" European defence equipment prime operator.
The Colchester, England-based designer and manufacturer of computer products for use in critical embedded applications said the four-year order worth around GBP17 million eclipses by far last year's previous largest order of USD6.2 million.
The "long-standing" customer is a leading provider of ground-based air defence systems and is expanding its production capacity to support increasing demand, Concurrent said.
The contract is for the supply of three variants of an established VME-based computer boar, with a total volume of other 3,400 units.
"This covers existing customer demand, spares and anticipated future demand for the next four years, enhancing revenue visibility for the company," it said.
The contract includes an upfront milestone payment to fund procurement of components.
Chief Executive Officer Miles Adcock said: "This order represents our largest ever contract win and demonstrates the longevity of our product set and the strength of our long-standing customer relationships. It also reflects the confidence our customers place in our products, our people and our ability to support critical defence programmes over the long term.
"This contract secures several years of the customer's expected requirements through a single commitment, providing us with enhanced multi-year revenue visibility."
He added: "More broadly, demand across our defence markets remains encouraging. Prior to this award, we were already on track to achieve record first-half order intake, while order intake in our Systems business has already exceeded the level achieved during the whole of 2025. These indicators give us increasing confidence as we continue to execute our strategy and build a broader, more resilient foundation for long-term growth."
Concurrent Tech shares rose 7.1% to 268.89 pence each on Thursday morning in London.
By Tom Budszus, Alliance News slot editor
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