Concurrent Technologies – reporting better than expected results and increasing order intake, shares 195p, TP 270p

Mark Watson-Mitchell - 13.04.2026

This morning the £169m capitalised Concurrent Technologies (LON:CNC) reported its 2025 results, showing a better-than-expected profits advance, up 25% on a 14% increase in sales.

The Colchester-based group is a designer and manufacturer of leading-edge computer products, systems, and mission-critical solutions used in high-performance markets by some of the world's major OEMs.

Concurrent reported a strong financial year with revenue increasing by 14% to £45.9m and pre-tax profit rising by 25% to £6.5m.

The company achieved a record order intake of £47.0m, a 15% increase from the previous year, which was helped by demand from Asia Pacific and Europe.

Worth noting was the fact that its closing cash position improved by 5% to £14.4m.

The group’s Products business unit saw revenue grow by 6% to £40.5m, while the Systems business unit experienced significant growth with revenue up 157% to £5.4m.

The Business

Concurrent develops and manufactures high-end embedded plug-in cards and systems for use in a wide range of high-performance, long-life cycle applications within the telecommunications, defence, security, telemetry, scientific and aerospace markets, including applications within extremely harsh environments.

Management Comment

CEO Miles Adcock stated that:

"Concurrent delivered another year of strong financial and strategic progress in 2025, with double-digit growth in revenue and profit alongside a record order intake.

This performance reflects continued momentum in our core Products business and encouraging progress in Systems, where ongoing investment is building a platform for future scale.

The strength of our relationships with leading global defence primes and the growing portfolio of long-visibility design wins provide increasing visibility as programmes begin to transition into sustained production.

At the same time, continued investment in our operational infrastructure and technology capability is enhancing our ability to support larger and more complex customer programmes.

While cognisant of the broader macro-economic environment, underlying market dynamics remain supportive and the strength of the Company's pipeline, our robust balance sheet and disciplined supply chain management mean that the Board is confident of delivering results for FY26 in line with market expectations."

The Equity

There are some 87m shares in issue.

The larger holders include Charley Stanley (11.335), Premier Miton Investors (8.40%), Hargreaves Lansdown Asset Management (7.75%), Interactive Investor (6.83%), Canaccord Genuity Wealth Management (5.01%), EFG Harris Allday (4.64%), Rathbone Investment Management (3.93%), AJ Bell Securities (3.03%), and Seguro Nominees (3.01%).

Broker’s Views

Analyst Ian McInally, at Cavendish Capital Markets, has a Buy rating on the stock, with a Target Price of 256p.

He is looking for the current year to end December, to show revenues of £52.0m (£45.9m), with adjusted pre-tax profits of £8.0m (£6.5m), lifting earnings to 7.8p (6.8p) and paying a dividend of 1.1p (1.1p) per share.

For the 2027 year he goes for revenues of £60.0m, with profits of £10.0m, generating earnings of 9.3p and a dividend of 1.2p per share.

At Singer Capital Markets, its trio of analysts (James Musker, Harold Evans and Roddy Davidson) also rate the group’s shares as a Buy, but with a Target Price of 270p.

For the current year, they look for £52.0m sales, £8.0m profits, earnings of 8.0p and paying a dividend of 1.30p per share.

The analysts consider that the year to end-December 2027 could show £60.0m in turnover, with £10.0m in profits, earnings of 9.9p per share and a 1.40p dividend.

My View

This group's shares have strong appeal, despite the high price-to-earnings profile.

I believe that this little group is now on an upward trajectory, which leaves plenty of prospective growth for its sales, profits and its share price, now 195p.

Could 250p be an early-achieved price objective?

(Profile 09.04.26 @ 192p set a Target Price of 235p)

mark@sqcresearch.com

Edge computing system mission-critical defence platform