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Sadly with everyone bulking up in defence, I want be surprised for a third or is it fourth consecutive year update of record orders exceeding expectations.
There have been a umber of board changes. I think many don't realise this company was founded in 1982 I think. Definitely eighties. Unsurprisingly there have been a few retirements and the death of one of the founders. So yes there has been a transitional phase. Illness in both company and auditors have delayed results. Apparently they may even have to appoint another auditor. However despite set backs, if they are seen as such, trading is expected to be slightly ahead of expectations. There are a lot worse investments out there and I'm getting 3.5% div on my original investment.
Difficult to tell imo. Last CFO resigned. Second such. But new one appointed straight away. Has there been trouble a't mill?
At least the spread is more sensible than normal for some reason. All this trouble its hard to tell what to make of anything market wise
Typically idiotic reaction from the market, with another quality replacement CFO and exec director from QQ.as the good Doctor builds a sold and exciting team to take the Tardis into a new phase.
Thanks for that Wealth. I think that is a pretty frank and honest appraisal by our new CEO. I know there have been some holders have been here for a very long time. It was one now defunct Aim Investment Trusts top holdings way back and also Lord Lee has been a long term holder with connections on the UK defence Committee. I think most of us have been aware that it has been a difficult year for techs aside from component shortages. It sounds like the good doctor has got this potential thoroughbred by the scruff of the neck and going to unleash its pent up potential. Very exciting. Not something I've been able to say about CNC before and you can tell the CEO is too
Above should read 3 hours 16 mins 40secs
hTtps://www.youtube.com/watch?v=j2FAFqgZkxM&ab_channel=Proactive (from 3:16:40)Very encouraging from the CEO. Come in at 3 mins 16 secs.
looks like someone picked up 30,000 in 3 bites
Interesting bounce on no news in spite of tech sell off. They're not exactly cheap these shares but I'm sure that even if investors cant see the value here there must be larger companies for whom this would make a welcome addition as well as opening a few doors.
Well done CNC. Terrific performance in a dreadful year. I don't mind admitting I was sweating a bit with no expected update before Christmas. Dividend in tact and slightly ahead of expectations:
The Company expects to report revenues and profitability slightly ahead of market expectations despite the ongoing challenges that the worldwide component supply chain is experiencing. Whilst the component issues are ongoing, the Company enters 2022 with a robust order book and an exciting pipeline of innovative product releases to grow our customer base and revenues in 2022 and beyond. Really well done guys and gals
The Company also expects to pay a final dividend to shareholders and to pay this after the final results for 2021 are announced.
Dont know if we have seen the bottom yet but with the security of countries at stake I would think some priority has to be given to companies like this when the chips are down . With no actual news on trading the 'record order book still stands and there should be some cost savings from the close of Indian arm and therefore feel this sp is somewhat ludicrous now. Growth maybe flat but hopefully the dividend is safe for now
Amarkal
Not sure what wave three is but looking at todays trades there are quite a few waving good bye :-)
Don't give up, don't sell now, wave 3 to start in the next period.
This is frustrating. One step forward one step back. Been a long time going nowhere. Getting close to calling it a day unfortunately. Dont like having my money tied up for so long being static. I think I will cut my losses and make it up hopefully elsewhere. I cant see it getting back above 100p any time soon. I had great hopes for the co. too.
The last paragraph had me worried a bit on first thoughts but I think the company is honest and trustworthy. Some companies - if I read such comments would worry me more. The price has held up well.
Lots to like here
Concurrent Technologies Plc (AIM: CNC), a world leading specialist in the design and manufacture of high-end embedded computer boards for critical applications, announces interim results for the six months to 30 June 2021, reflecting a positive trading period with strong sales, profit before tax and investment
Financial Highlights
· Revenue of £9.3m (H1 2020: £9.2m)
· Gross profit of £5.1m (H1 2020: £4.9m)
· Gross margin of 54.3% (H1 2020: 52.9%)
· Group operating profit of £1.6m (H1 2020: £1.2m)
· Profit before tax of £1.5m (H1 2020: £1.2m)
· EPS of 2.09 pence (H1 2020: 1.62 pence)
· Interim dividend increased to 1.15p per share (H1 2020: 1.10p)
· Cash balance (including cash deposits) at 30 June 2021 of £12.4m (H1 2020: £10.0m)
Operational Highlights
· Largest market sector is defence at 71% of revenue
· Record order book achieved during the period of £15.9m (H1 2020: £13.9m)
· Global customer base remains solid with exports generating 91% of revenue (H1 2020: 96%)
· R&D cost during the period was £1.6m (H1 2020: £1.8m)
· Component shortages being managed, although challenges remain across the global supply chain
Mark Cubitt, Chairman of Concurrent Technologies Plc, commented: "Even in the face of unprecedented worldwide supply chain disruption, the first half performance has been robust with sales at 2020 levels, improved margins, a strengthened balance sheet, and a record order book ensuring the pipeline of future profitability. There remains uncertainty on the timing of some shipments in Q4 2021 and into 2022, driven by component availability, which may slip revenues into 2022 but there is no evidence yet of cancellations from customers. The Board believe the changes in management structure and leadership team will leave the Company well placed to leverage its reputation in the market for future growth and improved profitability."
Interims tomorrow I think. Have to say this rise although hoped for was not exactly expected this quickly. So either news has leaked or the persistent sellers over the summer have realised their mistake. The news will need to be pretty good to maintain this momentum. Fingers crossed again
We have now
Have we been notified of them?
Interim results next week.
oogle
Was just going to pose the same question. News would be good. Must be a reason
Any ideas on concurrent buying frenzy this morning. Absolutely no news. Blocks of 5 & 10 thousand being accumulated.
Oh. Right!! Ill wait with you then :-)
yes.
See the 5yr chart for details.
The Elliot wave reset in March 202 falling below 60. Wave 1 then reached around 125 in August 2020.
Since then and until today August 2021 we entered wave 2 corrective wave ABC pattern. It looks like Wave 2 has now completed, support around 80 if we fall below this then i shall have to recalculate.
Otherwise wave 3. Wave 3 will be confirmed with a break above 100. The rise could be very quick.
I bought in at 97 in anticipation of this scenario playing out.
However fundamentals do not yet support a big SP rise, therefore its a waiting game.
SP ideally placed though IMO
Amarkal - are you on the right thread? 184 ?