Concurrent Technologies (AIM:CNC), the AIM-listed designer of high-performance embedded computing products and systems for defence, aerospace and industrial markets, reported first-half revenue up 10% to £23.2m for the six months to 30 June, against £21.1m a year earlier.
Profit before tax rose 19% to £3.2m, from £2.7m in the same period last year.
Order intake surged 110% to £46.9m, already matching the whole of the 2025 financial year's intake and including the Group's largest single contract to date, worth approximately £17m, from a long-standing European customer.
"We have delivered another record first half, reflecting the continued execution of our strategy and the strength of demand for our high-performance computing solutions," said chief executive Miles Adcock, adding that year-to-date order intake had exceeded £68m with four months still to run.
The Systems division, built around the 2023 acquisition of Phillips Aerospace, turned profitable for the first time, with gross margin rising to 26.3% from 13.3% as the mix shifted toward higher-margin production work. Cash stood at £9.7m, up from £7.8m a year earlier.
The board said it is confident of delivering full-year revenue materially ahead and profit ahead of market expectations, which analyst consensus currently puts at £52m revenue and £8m pre-tax profit, reflecting phasing of profit recognition on the record European contract.
CFO Kim Garrod will retire at the end of 2026, with Emma Ciechan joining as her successor in October.
News Intelligence what this means for the company
Concurrent Technologies lifted full-year guidance to revenue and profit materially ahead of consensus (£52m revenue, £8m pre-tax profit) after first-half order intake surged 110% to £46.9m, already matching the entire 2025 financial year's intake. The surge was driven by its largest single contract to date, worth approximately £17m, from a long-standing European customer, and the Systems division—built on the 2023 Phillips Aerospace acquisition—turned profitable for the first time with gross margin jumping to 26.3% from 13.3%, signalling successful integration and margin expansion.
The order intake acceleration and Systems division profitability inflection materially strengthen the near-term revenue and earnings trajectory, though the £17m contract's phasing into profit recognition means the 2026 earnings beat will be constrained by timing rather than underlying demand weakness. Cash generation remains solid at £9.7m, up from £7.8m year-on-year, supporting the company's ability to absorb working capital swings from the enlarged order book.
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