17th Jan 2024 12:56
Concurrent Technologies PLC - Essex, England-based computer board manufacturer - Expects revenue for 2023 to be 5% ahead of Cavendish Capital Markets Ltd expectations of GBP29.5 million, based on its unaudited management accounts. Says adjusted pretax profit will also come up "slightly ahead" of Cavendish's GBP3.5 million expectations. This would make 2023 a "record year" for Concurrent, with revenue increasing from GBP18.3 million in 2022.
Chief Executive Officer Miles Adcock said: "This has been another outstanding year for Concurrent Technologies delivering a record financial performance even after meaningful investment for growth in the cost base. Our success has been fuelled by significant design-in wins, new product releases and investment made in the systems business."
Current stock price: 79.42 pence, up 0.5% in London at midday on Thursday.
12-month change: down 0.1%
By Hugh Cameron, Alliance News reporter
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