Concurrent Technologies – will news with next week’s Interims keep the shares, now 245p, pushing ahead, or is there time to take stock of the prospects?
- Mark Watson-Mitchell
- 16 hours ago
- 4 min read
Mark Watson-Mitchell - 02.09.2026
Built for programs where failure isn’t an option
Next Monday morning, 7th September, Concurrent Technologies (LON:CNC) will declare its Interim Results to end-June.
The company 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.
Although market dynamics support the £213m-capitalised group’s long-term growth momentum, the market is now asking whether its shares have been driven too high or are they capable of achieving even greater price heights?
A year ago, they were trading at 177p, at the end of July this year they peaked at 286p before falling back to 220p three weeks later.
Now, following on from some heavier dealing volumes last week, they have pushed ahead again to the current 245p, just a few days away from the next set of corporate news.
The Business
The Colchester, Essex-based Concurrent Technologies 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.
From medical advancements to cutting-edge aerospace, Concurrent’s high-performance embedded computer solutions are the backbone of critical systems across various industries.
The processor products, which are built for harsh environments and long-life deployments, feature Intel® processors, including the latest generation embedded Intel® Core™ processors, Intel® Xeon® and Intel Atom™ processors.
The products, which are designed and manufactured in the UK and the USA, are sold world-wide and are designed to be compliant with industry specifications and support many of today's leading embedded operating systems.
The group has built up high-quality relationships with some of the world’s leading OEMs in defence, including companies such as Boeing, Raytheon, MBDA, BAE Systems and many more.
Interim Trading Update
On Monday, 13th July, the group reported a record first-half for FY26, with revenue reaching approximately £23.1m and profit before tax around £3.3m, both representing significant increases from the prior year.
Order intake surged to £46.9m, more than doubling from £22.3m in H1 FY25, driven by strong demand and a substantial multi-year order.
The business also secured new design wins with a projected lifetime value of £129m, enhancing future revenue visibility.
Manufacturing expansion is on track to double capacity by Q3 2026, and proactive supply chain management is in place.
The company anticipates full-year results to be in line with current market expectations of £53m revenue and £8m profit before tax.
Management Comment
CEO Mike Adcock stated that:
"Delivering record first-half results reflects the continued strength of demand across our key markets and the successful execution of our growth strategy across both Products and Systems.
The increasing conversion of earlier design wins into production orders, as anticipated, is particularly encouraging, alongside continued new programme wins, which together are enhancing the visibility and quality of future revenues across the group.
Underlying demand remains strong, and alongside a solid order book, the group is well-positioned for the second half of the year and beyond."
Major Runway For Growth
Its target market is valued at over $100bn, providing a significant runway for growth as it expands with new major clients, release new products, win new long-term programmes, penetrate further into new markets, and accelerate through acquisition.
The company declares that it is moving up the value-chain beyond single boards and into systems, providing a material upside to its business.
The tailwinds are strong across the group’s key markets with the continued digital transformation in defence and investments in AI, radar and surveillance as well as the acceleration of 5G in the telecommunications sector.
Scalable Financial Model
Concurrent Technologies boards are ‘designed in’ to long-term projects providing the business with good revenue visibility, repeat orders and high lifetime value.
It can scale its manufacturing capacity to deliver multiples of current revenues which, together with optimising all of its processes, can deliver cash-backed profit margins of 15–20%.
The Equity
There are some 86.99m shares in issue.
The larger holders include Charles Schwab Investment Management, Inc. (10.85%), Hargreaves Lansdown Fund Managers Ltd. (7.42%), Interactive Investor Services Ltd. (6.54%), Premier Fund Managers Ltd. (4.70%), EFG Private Bank Ltd. (4.44%), Lombard Odier Asset Management (Europe) Ltd. (4.21%), Rathbones Investment Management Ltd. (3.77%), Canaccord Genuity Wealth Ltd. (3.34%), KW Investment Management Ltd. (2.33%), and Gresham House Asset Management Ltd. (Investment Management) (1.59%).
Broker Views
Five firms cover the group; the analysts from each rate the shares as a Buy.
The Average Target Price is 296p, the Lowest TP is 256p and the Highest is 385p.
Berenberg Bank has a Buy rating on the group’s shares, with a 275p Target Price.
Consensus market expectations for FY26 are revenues of £53m and profit before tax of £8m.
My View
I really do like the potential of this business and its management’s commitment to its growth, especially in recently taking on 75% more space next to its current facilities.
Until next week’s results are published and digested, I would suggest caution in chasing its shares now at 245p, there could well be cheaper buying opportunities just around the corner.
Despite that, they do offer significant upside potential over the next few years.
(Profile 09.04.26 @ 192p set a Target Price of 235p*)
(Profile 29.05.26 @ 266p set a Target Price of 300p)
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