Financial Highlights
· Turnover of £7.8m (H1 2016: £9.0m)1
· Gross profit £4.3m (H1 2016: £4.9m)
· Gross margin maintained at 54.8% (H1 2016: 54.8%)
· Profit before tax of £1.4m (H1 2016: £1.5m)
· EPS of 1.84 pence (H1 2016: 2.12 pence)
· Interim dividend increased by 12.5% to 0.90p per share (H1 2016: 0.80p)
· Cash balance (including cash deposits) at 30 June 2017 of £7.9m (H1 2016: £8.2m)
1. H1 2016 turnover was inflated by an exceptional sale
Operational Highlights
· Defence related sales, in particular from US customers, now account for more than half of the Group revenues and continue to drive the business
· Expanding global customer base with exports generating 84% of Group revenues (H1 2016: 81%)
· £1.2m invested into R&D during the period, resulting in strong pipeline of future product releases
· Release of two new rugged conduction-cooled boards, plus the launch of new range of Intel® Xeon® boards during the period
Michael Collins, Chairman of Concurrent Technologies Plc, commented:
“After a solid performance in the first-half of the year we have started the second-half with an expanding list of customers, many new opportunities and a strong balance sheet. The outlook for the future remains positive.”