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Profits surge at Concurrent

TIP UPDATE: Strong demand from defence sector buoys Concurrent
April 28, 2009

Strong demand from the defence sector has helped computer-board maker Concurrent Technologies to remain robust in the downturn. Pre-tax profits for the year to end December rose 21 per cent to £2.95m on the back of 19 per cent growth in sales to £12.6m.

IC TIP: Buy at 33p

Chairman Michael Collins said that, while the downturn had affected its telecommunications and industrial customers, Concurrent had still been seeing "reasonable" order intake in the first quarter of 2009. He added that expected cutbacks in US defence spending were "not in areas of major interest" for Concurrent and that first-quarter activity in defence "had never been higher".

What we said:

When: 18 September 2008

Price: 37p

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