Concurrent Technologies ends year ahead of market expectations

5th Jan 2022 08:33

(Sharecast News) - Embedded computer products specialist Concurrent Technologies updated the market on its trading for the year just ended on Wednesday, reporting that based on its unaudited accounts, it was expecting to report revenues and profitability "slightly ahead" of market expectations.
The AIM-traded firm said that performance came despite ongoing challenges being experienced by the component supply chain globally.

It said that, while the component issues were ongoing, it had entered 2022 with a "robust" order book and an "exciting pipeline" of product releases to grow its customer base and revenues.

The company said it also expected to pay a final dividend to shareholders after the final results for 2021 are announced.

"I am delighted with the 2021 trading performance, in particular how the experienced management team and dedicated staff enabled Concurrent to minimise impact of the global supply chain issues, and I am confident in the long term prospects for the business," said chief executive officer Miles Adcock.

At 0926 GMT, shares in Concurrent Technologies were up 8.75% at 87p.