Concurrent Technologies Share Discussion Threads

[hastings] 10/6/2023 10:06

Interesting stuff Earwacks, you've obviously been around for a while!I'm speaking with them just after 8 am on results day and looking forward to that. When I last spoke with Miles, soon after he was installed he stressed the real potential for growth that existed, with the UK providing for opportunities in areas that had previously been underserved.Therefore it'll be interesting to hear more on progress and the pipeline of opportunities in the current year and beyond.

[cfro] 10/6/2023 09:18

I was looking through old newsflow this morning and had forgotten all about this exciting product launch from back in January 2020 (then of course Covid hit with more important things to worry about).



The market for AI technology in critical embedded applications is still in its early stages as customers begin to understand how this faster and more accurate actionable intelligence can be used within their next generation applications. This new AI product will assist Concurrent to engage with customers at an early stage of development of these new applications and projects.

Jane Annear, Managing Director of Concurrent Technologies, commented:

"This new AI Accelerator Engine marks an exciting step for Concurrent Technologies, demonstrating our ability to innovate and provide more proactive solutions to problems and meet the demands of challenging markets. Our objective is to provide solutions based around our existing processor board products and this is a significant step forward."


I dont know what developments have happened since. I can't recall the new management team mentioning this or talking much about AI in general and whether this new product met their sales targets or not. I do hope they haven't gone and dropped the proverbial ball here and lost it..

Maybe they have already incorporated much of the tech into their more recently launched newer products, i don't know. I guess there will be lot's of questions on AI in particular asked at upcoming results presentation and AGM.

[hastings] 10/6/2023 08:16

Not sure that reduction suggests further sales to come. I've seen Miton and others reduce a few in numerous other instances without being a prelude to an exit or sizeable scaling down.

[earwacks] 10/6/2023 01:04

Looks like Mr Gervais (premier miton) has sold a small percent of his diverse income trust holding. I suppose the fact Cnc has cut the dividend does not fit the ‘income’ part of the trust anymore. Could be a bit of a pain if he’s going to drip feed out. Would think another fund would be keen to relieve him of his stock at this price. What a prat to be off loading at this time of Concurrents restructuring. Cant think of many small caps with so much potential right now.

[simon gordon] 09/6/2023 11:42

I heard back from SEC Newgate and CNC are holding a conference call with PIs at 10.45am, 21st June. They sent a Zoom link where I registered for the call. If you are interested you can email them for a link.

[e-mail]

[hastings] 07/6/2023 08:49

Looks like I've secured an early call with management on what should be a busy day!

[earwacks] 05/6/2023 14:32

That is a relief as well as better news. Hope they can push on back to the 80s soon. Timely tip up on Friday. Be surprised to see the dividend restored just yet. If the cash balance is restored that would be good. Enjoying our trip to Bournemouth to see Bonnie Raitt tomorrow night. In the holiday mood, much warmer here than east Kent! Gl

[simon gordon] 05/6/2023 11:53

I've emailed SEC Newgate to ask if shareholders can attend the analyst Zoom presentation and if not, whether an Investor Meet can be scheduled.

If a number of PIs push for an Investor Meet maybe they'll hold one, here's the email address to petition:

[e-mail]

[valhamos] 05/6/2023 09:19

Sounds very positive - currently in line with expectations for this year with potential for more as supply constraints ease.

[cfro] 05/6/2023 08:47

Results used to be in April. The reasons why they are late aside i do hope they can get back to an earlier release date next year.

I wonder if a dividend will be paid. I do hope they do!

I note the presentation to analysts via zoom but no Investor Meet presentation to shareholders...

[gswredland] 05/6/2023 08:41

Yes sounds good!

[hastings] 05/6/2023 07:21

Results date confirmed and a positive tone too. Looking forward to hearing more!

[earwacks] 02/6/2023 09:55

Thats one of the quirks of the market. Companies release a pre market update with little or no reaction, then when they publish the results verbatim the marker has a hissy fit!
I was wondering why there were no director buys recently but with this prolonged audit they are in a closed period.
The other completely overlooked piece of news from well over a year ago, maybe 2 was how early they got involved in producing boards enabling Ai. Seems like many different parts beginning to make this look a much broader business that it has been for many years, not that it has done badly, just a bit of fits and starts. Time for a more secure footing maybe

[simon gordon] 02/6/2023 09:34

Ear,

2022 is already history and the market knows what to expect.

It's now all about 2023 and 2024. Are they doing a double shift in Q2 and if so, will this continue in H2? It's all down to components. If they can do a double shift through 2023 then the share should re-rate and 2024 will be even better if the order book continues to grow.

If they can't keep up double shifts in 2023 then the share will flatline until they start proving up 2024.

[hastings] 02/6/2023 09:34

Earwacks, I don't believe the market/investors will be too focused on the results. Rather, I think it'll be more a concentration on the current situation and as to whether numbers are intact for the year now in play.Forecast (2023) is at present for rev of £22.1m PBT £2.7m and EPS of 3.7p.Additionally, if there is a positive tone building on previous news and new initiatives then next year could show real progress.

[earwacks] 02/6/2023 09:24

I am expecting that the figures wont look good in the results which will be as in the update, reduced revenue and about 100k profit. Sounds dreadful. Hopefully we will get a bit of update with that of substantially improved performance in current year as hinted at. They said 10% increase and being cautious. No idea how he market will react, but I have to say I have been impressed with the way Miles (not Mat as I said last time)has set about ambitious restructuring of this business. I mentioned to him that CNC was a slightly strange quirky little business going since 1986 almost unnoticed with some enormous clients on their books. These shares are pretty illiquid and tightly held by institutions and of course the ubiquitous Lord Lee who has been a long term shareholder and usefully an advisor to the government defence department amongst several other roles. I managed to top up a few more on a limit order this morning and then a smaller amount slightly cheaper on the internet. I have left a little room to add in case the market has one of its irrational reactions when the results are finally released. No clue when that might be I’m afraid. Gl all

[sleepy] 02/6/2023 08:22

Thanks Simon and earwacks

[simon gordon] 31/5/2023 15:20

Sleepy,

It's worth reading the Cenkos broker notes from January 2023 and September 2022.

You can sign up for free to the Cenkos research portal:

[sleepy] 31/5/2023 15:15

From the January trading update

The Board previously confirmed a policy of paying dividends from profit generated during the year. Accordingly, the Board does not currently propose to pay a dividend in respect of FY22, with cash instead being used to fund further investment across the business, including in component holdings to mitigate the impact of any potential further restrictions. However, the Board is still committed to the capital discipline of paying a dividend when future profits allow.

Does that mean they weren’t profitable in 2022?

[earwacks] 31/5/2023 14:22

I too have sent an email asking for better communication. Don’t think it’s good enough simply to say the interims are a good indicator. They cut the dividend and had significantly reduced the cash balance, although assured this would be restored. Slightly ahead of pretty low expectations. There has been good news flow of ‘ exciting new products’ but nothing on whether this heavily invested new product is returning the lost value to shareholders. Fairly basic stuff

[simon gordon] 31/5/2023 07:49

Sleepy,

When I contacted the company I was told the following:

19/4/23

"We gave our trading update in January, and that remains a good indicator of our performance."

13/5/23

"It is also true that like many others, we are experiencing a really challenging audit this year that has made it difficult to be confident on a completion date, but we are almost there."

The auditor is Grant Thornton who have had issues with other companies.

I think there were some new audit rules brought in during 2022.

Still, it's a small company and the books can't be that complicated. If this is down to Grant Thornton they should be replaced for 2023, as like you say it is negatively affecting sentiment and weakening the share price.

It might be a good idea to send an email to share your frustration with the Investor Relations department: [e-mail]

Best!

[sleepy] 30/5/2023 20:39

Simon Gordon and Hastings - thank you but ???????????? (putting it politely) and what about the share price?

[hastings] 30/5/2023 17:05

I can echo/confirm Simon's comments having been in touch with the company.