Financial Highlights
· Turnover of £16.2m (2016: £16.4m)
· Gross profit increased by 1.0% to £9.0m (2016: £8.9m)
· Gross margin increased to 55.4% (2016: 54.2%)
· EBITDA increased by 2.1% to £4.4m (2016: £4.3m)
· Profit before Tax increased by 2.3% to £3.0m (2016: £2.9m)
· Dividend increased by 5% to 2.20 pence per share for the year (2016: 2.10 pence)
· Cash in business plus deposits increased to £8.4m (2016: £7.8m)
Operational Highlights
· Several new high performance embedded computer boards and accessory boards as well as modules were released during 2017. These included the new generation quad-core Intel® Xeon® processors.
· In addition to providing the latest high performance and low power units across all of its open architectures for new applications and new customers, the Group's product portfolio allows for practical upgrade paths for its existing long life cycle customers.
Michael Collins, Chairman of Concurrent Technologies Plc, commented:
“The future outlook for the Group continues to be encouraging as both new and existing customers increasingly require more sophisticated boards and solutions.
The key to continued success is to expand the Group's range of products, with a particular focus on the OpenVPX™ bus architecture. In addition to boards and associated software the Group has recently started to provide development systems based on the OpenVPX™ and MicroTCA® architectures. These development systems will enable users to reduce their own product development times.
Competitive advantage can be maintained through continued R&D investment and constant expansion of the Group's range of advanced technology products, in particular targeting products and development systems for harsh environments and expanding the development of additional software and firmware products. The Group will continue to recruit additional engineers in the UK, USA and India to enable this development.
The Board continues to look for worldwide acquisition opportunities but sees many opportunities to grow the business organically into new market areas without taking unacceptable risks.
Sales and new opportunities arising this year have been encouraging and the Group's current healthy order book gives the Board confidence in the Group's performance for the full year.”
Annual General Meeting
The Annual General Meeting of Concurrent Technologies Plc will be held at the Company's offices at 4 Gilberd Court, Newcomen Way, Colchester, Essex, CO4 9WN, on 22 May 2018 at 2:30pm.