Concurrent Technologies Share Discussion Threads

[simon gordon] 30/6/2023 07:24

Cash £0.5m ahead of forecasts at £4.5m. Cenkos forecast for 2023 now £9.3m, previously £7.1m.

Cenkos - 30/6/23:

Although the component supply issues have continued into FY23, supply is improving gradually and is now more reliable. Management expects that supply chains should steadily normalise throughout H2/23. The £26.7m order backlog entering FY23E underpins our FY23E forecast and more normalised supply chains into FY24E will enable Concurrent Technologies’ growth strategy to be delivered unhindered.

The business has prepared for and has the manufacturing capacity to fulfil a substantial increase in activity and is positioned for a very strong recovery in revenue and profitability. As we previously mentioned, the only limiting factor over the past year has been component shortages, now gradually ameliorating.

Our forecasts for FY24E and FY25E show Concurrent Technologies generating levels of revenue and profitability well ahead of any levels the business has delivered previously. We believe Concurrent Technologies will become a materially larger business in coming periods.

[my retirement fund] 29/6/2023 23:53

Well, I hope things improve for you guys. You certainly need it. Good luck to you for the future!

[sleepy] 29/6/2023 14:49

Thanks Simon - I think it may cause problems if results are not out before 1 July?

[simon gordon] 29/6/2023 14:47

Hi Sleepy,

Just seen your post, I had posted before reading it.

When they emailed me earlier in the week they said it would likely be Thursday. Today I emailed them to see what was happening and they said hopefully tomorrow.

[simon gordon] 29/6/2023 14:40

SEC Newgate are hopeful results will be published at 7am tomorrow with a conference call on Monday.

[sleepy] 29/6/2023 14:32

simon gordon - what exactly did SEC Newgate say?

[deanowls] 29/6/2023 07:56

Taps table.

[hastings] 28/6/2023 16:49

Away at present, so can't catch up with management on Friday following results that should be out tomorrow. Somewhat surprised by the drop away, but obviously understandable I guess.Personally happy to hold and add further if things proceed as they should.

[simon gordon] 28/6/2023 16:42

Lowest closing daily price since 2017.

[zipstuck] 28/6/2023 14:34

Happy they are cleaning up the balance sheet if the orders are there then all to play for

[simon gordon] 28/6/2023 14:25

MRF,

It's not just Semis, it's resistors and capacitors.

As to the share price, late accounts and adjustments are hitting confidence hard. With the strategy changing to growth from income a fundie could be wanting out as well. Unless they start trading ahead in H2, 2023 is a wipe out and it won't be until 2024 before they look to get re-rated.

Under promise and over deliver.

At the moment it is...

Over promise and under deliver.

[my retirement fund] 28/6/2023 14:15

.fans Fabs! Wafer fabrication plants for integrated circuits!

[my retirement fund] 28/6/2023 14:14

Sleepy I was referring to Icoms profits, all their semiconductors pretty much come from the same fans CRC would be using. It just seemed like a lame excuse to me, that's all I'm saying. The shortages in the motor industry are another kettle of fish and genuine because there was a fire during covid at one of the few fans that was approved to make motor vehicle grade semiconductors due to industrial safety approvals.

[my retirement fund] 28/6/2023 14:08

Crikey, someone got an early preview, me thinks!

[cfro] 28/6/2023 09:08

Thanks for the info simon, i was beginning to think they had just forgotten about the results Lol...

Really not good enough it has taken so long.

[simon gordon] 28/6/2023 07:47

According to an emailed message from SEC Newgate results are likely tomorrow, with a conference call for PIs on Friday or Monday.

[zipstuck] 21/6/2023 11:24

The most important part of the trading statement to me was that the supply chain issues are easing

[sleepy] 19/6/2023 22:11

MRF - what record profits are you referring to in 901?

[simon gordon] 19/6/2023 20:16

MRF,

In April 2022 CNC hired Kimberley Leighton as Procurement and Supply Chain Manager. I think this was a new position at the company.

That's how seriously CNC are taking components and the supply chain.

LinkedIn:

About

Extremely committed, ambitious individual. Flexible putting company needs first, with six years experience running fast-paced performing teams with a dynamic management style. Hybrid background in electronics from brokerage, OEMs to MROs. Ideal combination in this shortage market. Five years experience in manufacturing, predominantly defense & aerospace associated.

[simon gordon] 19/6/2023 15:03

MRF,

I'd take your point more seriously if you were comparing CNC to Abacus, Mercury or any of their peers. Defence hardware board manufacturers.

There is no conspiracy here, there are shortages which by the sounds of it are coming to an end. CNC have flagged this since the beginning of 2022. Do you honestly think they are sitting there with a record backlog twiddling their thumbs? I don't compute your logic.

[my retirement fund] 19/6/2023 14:44

But my point is its reflected in their recent accounts. The bottom line! Record profits, despite component shortages.

[sleepy] 19/6/2023 13:45

The interim figures showed an increase in Intangible Assets from £7,692,528 to £9,058,713 in the 6 months to 30 June 2022. (Does this look like a CEO and CFO who were trying to be conservative?)

[hastings] 19/6/2023 13:10

CNC has also seen record order intake as per the previous update. Not sure of your point, given that just about everyone one is aware that there has been a worldwide shortage of semi conductor components.