REG - Concurrent Tech. - Trading Update <Origin Href="QuoteRef">CNCT.L</Origin>

Concurrent TechnologiesAnnouncement

01/07/2016 07:18

RNS Number : 8184C
Concurrent Technologies PLC
01 July 2016
01 July 2016
Concurrent Technologies Plc
(the "Company")
Trading Update
Concurrent Technologies Plc (AIM: CNC), a world leading specialist in the design and manufacture of high-end embedded computer products for critical applications in the defence, aerospace, telecommunications, transportation, scientific and industrial markets, announces a trading update.
As a consequence of the recent changes in currency rates and the sharp decline in the value of sterling against the US dollar, the Company has conducted an additional review of its financial risk and trading plans. The majority of the Company's world-wide transactions are conducted in sterling and in US dollars. The value of transactions conducted by the Company in other currencies, including the Euro, is very low, and therefore these transactions have not been considered in this review. The Board is pleased to confirm that the Company's exposure to exchange risk is still mitigated to a large extent by the ability to offset receipts from sales against payments for purchases in the same currency (natural hedging) and confirms that it is still of the view that the outlook for this year as a whole remains good.
Enquiries:
Concurrent Technologies Plc
Glen Fawcett, CEO 
+44 (0)1206 752 626


Newgate (Financial PR)
Bob Huxford
Robyn McConnachie

+44 (0)207 653 9850


Cenkos Securities plc (NOMAD)
Neil McDonald
Nick Tulloch/Beth McKiernan

+44 (0)131 220 9771
+44 (0)131 220 9772/8
Note to Editors:
About Concurrent Technologies Plc
Concurrent Technologies Plc develops and manufactures high-end embedded computer products for use in a wide range of high performance applications within the telecommunications, defence, security, telemetry, scientific and aerospace markets. Using mainly Intel processors, including the latest generation Intel Core i7 processors, Intel Xeon and Intel Atom processors, the Company offers a wide range of computer products which are designed to be compliant with industry specifications including those for products used in extremely harsh environments. Other processors now include NVIDIA Tegra K1 devices.
For more information on Concurrent Technologies Plc and its products please visit www.cct.co.uk.
All trademarks, registered trademarks and trade names used in this announcement are the property of their respective owners.

This information is provided by RNS
The company news service from the London Stock Exchange
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