Concurrent Technologies secures largest-ever single contract

(Sharecast News) - Concurrent Technologies said on Thursday that it had secured its largest-ever single contract, a four-year order worth about £17m from a major European defence equipment prime contractor.

The AIM-traded designer and manufacturer of computer products, systems and mission-critical solutions said the order significantly exceeded its previous largest contract, worth $6.2m, which was received in 2025.

The long-standing customer is a leading provider of ground-based air defence systems and is expanding production capacity to support rising demand.

Concurrent said the contract covered the supply of three variants of an established VME-based computer board, with total volumes of more than 3,400 units and associated accessories.

The order covers existing customer demand, spares and anticipated future demand over the next four years, improving Concurrent's multi-year revenue visibility.

It also includes an upfront milestone payment to fund procurement of all required components for the programme.

Concurrent said the order followed Intel's announcement earlier this year of a last-time buy opportunity for a processor used within its product family.

Given the long development, qualification and deployment cycles for defence platforms, the customer elected to secure four years of expected demand through a single procurement exercise.

The company said its long-standing customer relationship and programme knowledge left it well placed to support future platform developments, including next-generation air defence systems.

Chief executive officer Miles Adcock said the order demonstrated the longevity of Concurrent's product set and the strength of its customer relationships.

"This contract secures several years of the customer's expected requirements through a single commitment, providing us with enhanced multi-year revenue visibility," he said.

Adcock said demand across Concurrent's defence markets remained encouraging, adding that before the award the group had already been on track to achieve record first-half order intake.

Order intake in its Systems business has also already exceeded the level achieved across the whole of 2025.

At 1126 BST, shares in Concurrent Technologies were up 7.36% at 269.48p.

Reporting by Josh White for Sharecast.com.

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