UK's Concurrent Technologies gains on robust annual results

Concurrent Technologies

01/05/2024 09:43

** Shares of Concurrent Technologies  CNCT.L  rise as much
as 5% to 104.5p, their highest since September 2021
    ** The maker of high-performance embedded processor
solutions posts an over ninefold surge in FY23 profit at 3.7 mln
pounds ($4.6 mln)
    ** Co's FY revenue soars 73% to 31.7 mln pounds
    ** Co says it entered FY24 with good momentum, helped by a
$1.57 mln contract win with a major global U.S. prime contractor
    ** CNCT says trading in first four months of year in line
with market expectations 
    ** Stock at session high, taking YTD gains to ~31%

    ($1 = 0.8010 pounds)

 (Reporting by Aby Jose Koilparambil in Bengaluru)
 ((abyjose.koilparambil@thomsonreuters.com))