Concurrent Technologies Share Discussion Threads

[earwacks] 30/5/2023 14:36

Very poor shareholder communication from new management . Not impressed. Lots of noise about new product , zero news on contracts or results. No wonder the share price continues to slide

[simon gordon] 30/5/2023 13:53

Auditor is Grant Thornton who I read have have been slow with other audits, I think due to capacity.

There was this issue to be cleared up in the accounts from last year:

Prior Year Restatement

A prior year adjustment of £0.3m has been made to the closing 2019 balance sheet to correct for an error on consolidation outside our underlying records dating back before 2019, which has under reported profit, net assets and total equity by this amount. As a result of not being able to definitively trace the cause of the issue, and with investigations ongoing, the auditors are required to qualify their opinion in regard to there being a limitation of scope on other creditors and opening reserves.

The Group will work to resolve the issue fully for the 2022 accounts, thereby allowing the auditors to remove their qualification. Consideration was given to delaying the accounts until the issue was fully resolved, but, on balance, the Board believed that, as it was a historic under reporting of profit of £0.3m against an overall net assets position of £23.4m, it was appropriate to accept the qualification and not delay release of the accounts. Investigations will continue to determine the cause and periods it relates, and the closing reserves for 2019 have been increased by the £0.3m.

[sleepy] 30/5/2023 12:06

Hopefully CNC is an exception but bad results generally seem to take longer to finalise than good results

[gswredland] 26/5/2023 17:47

Been expecting them all month!

[hastings] 26/5/2023 17:00

Results will come when they come!

[sleepy] 25/5/2023 23:09

Why aren’t the results out yet?

[simon gordon] 25/5/2023 12:06

Progressive Research - 25/5/23:

Defence services provider QinetiQ reports orders up 41%, to a record-high of £1.7bn, growing its backlog to £3.1bn. It enters FY24 with confidence, a healthy order book and positive momentum, with 61% revenue under contract. Consistent with its upgraded long-term guidance, QQ expects to deliver high single-digit revenue growth, which with the impact of M&A, equates to high teens total revenue growth.

Defence supplier Cohort said that trading was slightly ahead of expectations. It has seen order intake up 84% underpinning current market revenue expectations.

Unsurprisingly defence is proving itself to be on an upswing as defence budgets are being refreshed amid conflict in Europe and rising tensions in the Far East.

[hastings] 23/5/2023 12:51

Been keeping a close eye in at just shy of the 67. Waiting to hear back regarding a catch up slot with management.

[zipstuck] 19/5/2023 08:06

Since 14/122 they have signed 2 reseller agreements announce a new product and have a substantial order backlog. Frustrating.

[bamboo2] 17/5/2023 16:39

Bought a few. Paid 68.2

[simon gordon] 12/5/2023 17:54

MRF,

I emailed the CFO and was told to expect news in the next couple of weeks, that was three weeks ago.

On Wednesday I tried to get hold of the PR company but the phone was constantly busy. Then emailed the Cenkos analyst who covers the company and he was none the wiser on a date.

Might be worth PIs emailing Investor Relations and asking why they are so slow and not keeping the market updated. In the past they've issued a Notice of Results RNS, last year they did two because people involved with the accounts fell ill.

[earwacks] 12/5/2023 17:34

Good question last year it was May 12th strangely enough. So anytime next week if they have some good news, like reinstatement of dividend, otherwise they can keep quiet

[my retirement fund] 12/5/2023 09:58

Has the company told anyone when it intends to publish results?

[gswredland] 09/5/2023 09:09

That looks encouraging!

[simon gordon] 08/5/2023 06:49

Bespoke Investment Group - 8/5/23:

[earwacks] 03/5/2023 14:04

Just been discussing on the news how some of the companies likely to benefit from AI are semi-conductor board manufacturers. I thought cnc would be a classic beneficiary.

[simon gordon] 30/4/2023 09:31

Looks like another top quality addition to the team:

James Camper, Head of Hardware, started April. Previously spent 12 years at Teledyne Paradise Datacom, where his last position was Site Director:




Teledyne Paradise Datacom:

[simon gordon] 29/4/2023 07:49

Edward Hunter Christie - 28/4/23:

"Donating arms to Ukraine accelerates Western military modernisation. Old systems are donated, so new replacement systems are ordered from industry at a higher rate. This stimulates the defence industry, and leads to economies of scale & cost savings."


Defense News - 27/3/23:

Did Ukraine funding spare the US Army from budget cuts?

[gswredland] 28/4/2023 18:27

Interesting