Concurrent Technologies Share Discussion Threads

[hastings] 10/7/2023 14:59

Write up for interest, after catching up with management.https://martinflitton1.wixsite.com/privatepunter/post/concurrent-may-be-ripe-for-a-turnaround-10-07-23

[my retirement fund] 10/7/2023 14:07

Chart pointing firmly to lower lows!

[simon gordon] 07/7/2023 20:15

Channel 4 News - 7/7/23:

How the Russia Ukraine war is supercharging AI warfare

Kyiv says it’s using artificial intelligence to target Russian positions and counter Moscow’s firepower advantage - with some claiming Ukraine is the “first digital war” and the dawn of a deadly AI arms race.

[simon gordon] 07/7/2023 17:17

Finding support on the monthly chart going back to H2 2015. It would probably take some chronically bad news to break it much lower from here.

I'm hoping it re-rates with a trading update at the AGM, 24th August and that will be the start of an earnings upgrade cycle.


free stock charts from uk.advfn.com

[hastings] 07/7/2023 12:30

Enjoyed a very worthwhile call with both the CEO and CFO late morning.Very happy with what I heard, including that Miton remains a major and supportive shareholder!Hoping to get my write up out next week for interest.

[earwacks] 05/7/2023 16:00

I don’t think Gervais Williams at Premier Miton has been a great help having had over 20 percent at one stage and has constantly been in the background selling off possibly now under notifiable interest so will be good to the back of them. Other institutional holders seem pretty resolute and would be surprised if some of them don’t start buying at this price. Very much reassured by todays interview. The market is just very weird and unpredictable at the moment. My biggest holding is in Eqls who just released an update saying 6 months trading already up with the whole of last years results and completed acquisition in Europe. For this fantastic update the shares rose 2 percent having dropped back 15 percent on fear of takeover being blocked. Plain daft

[simon gordon] 05/7/2023 12:11

Ear,

Yes, it looks a good buy point, c.10x 2024 with c.£10m cash.

Company has moved from a micro cap management team and ethos to a FTSE 250 management team and culture. The growth will follow, as will a re-rating.

I was reading today that, so far in 2023, a record 83 companies have been suspended over late audits. Something seriously wrong at the auditors.

Hopefully, as H2 proves up, credibility will be regained and the share re-rated.

[earwacks] 05/7/2023 10:49

Yes good update from Miles thanks Simon. I think there is a certain incredulity in his tone having to repeat everything in almost baby language for the market to understand. Just wish I had more spare cash! Should be a while yet though before any news to push this back to anywhere near where it will be next year if all goes to plan

[simon gordon] 03/7/2023 18:56

Page 16 of the annual results 2022 presentation explains where the specific component shortages arise from.

Page 30 highlights that they are tendering in greater than 20 design wins, historically it was 2 to 3. You'd think that number would grow as the new products and sales team gain more traction into the market, still early days for the rebooted CNC.

Annual Results 2022 presentation:

[...]

*ADVFN has blocked the link.

On this link you scroll down to find it:

[...]

Oh, well, ADVFN is going to pot!!

-----

Microchip:

[cfro] 02/7/2023 09:37

Throws up a lot of questions though..

Is the auditor to blame for the lateness?
Isn't it the responsibility of the CFO to do the job right in the first place so the accounts are not qualified?
With the need for prior year adjustments why wasn't this picked up in previous years by auditors back then?
Is the previous CFO to blame?


I've encountered the "problem" of how and how much to capitalise R&D so many times with so many companies in the past. The rules are vague and so often misunderstood and misinterpreted.

Anyhow, this is now behind us and there is an urgency now to move forward.

[earwacks] 02/7/2023 07:28

Indeed it has been a shambolic audit Simon. However they got the job done without suspension right on the bell! As Miles points out it is his CFO that came with him from the previous company that we have to thank for hopefully ironing out the problems left by the previous CFO. This was a company with a maturing senior management shall we say and in conjunction with a chip shortage left the company floundering And in Need of a good spring clean. I think the new team being of a new generation are best placed than we could have hoped for to reinvigorate. The market reaction has been a little over the top frankly and CnC are not in the same category as other companies who have actually been suspended for late audits. The continuing supply shortage on some components is a concern, but hopefully will improve with yet again another record order book which will in time significantly improve cash generation. Pe around15/16, peg at 0.38 and eps growth forecast 2,800 per cent. A lot of green traffic light indicators on stockopedia. I topped up a wee bit too soon. It matters not as we are now in a period of reset. Gl all

[simon gordon] 01/7/2023 11:55

Quarterly chart over nine years. Q2 2023 is the lowest quarterly close since Q2 2015. What a shambolic audit.


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[simon gordon] 30/6/2023 17:05

Annual Report 2022:

Concurrent Technologies is in the midst of a profound transformation. One way to illustrate this is in the change in our talent base. During 2022 we grew from 106 to 129 colleagues, with 52 joining the Company and 29 leaving. We have also added new key functions such as People, Commercial and Supply chain. Transformation is in progress throughout the business, whether in relation to talent, operational excellence, products and services, or governance.

[earwacks] 30/6/2023 10:49

Miles did say that now restraints have been lifted he looks forward to regular updates to the market. All eyes and ears! I think it looks good. Will take time for sentiment to recover as the market hates I’s and T’ not crossed and of course the all important numbers backing up his optimism
John Hughman on Vox markets comments on update from Cenkos

[zipstuck] 30/6/2023 09:50

One would expect positive news flow as the design wins convert into projects.

[sleepy] 30/6/2023 09:41

Thanks Valhamos

[varies] 30/6/2023 09:14

No dividend for 2022.
This is prudent but disappointing.
Let us hope that the Cenkos predictions come true.

[zipstuck] 30/6/2023 08:47

It does appear that they are getting some sales traction and the ability to manufacture in the US that they have achieved is key growth driver

[earwacks] 30/6/2023 08:13

A good one to have out of the way. Seem to have been a number of companies this year with accounting issues. Another record order intake!I think Miles really did takeover in the nick of time

[hastings] 30/6/2023 08:05

Good to see the results out and a line drawn.Looking ahead, as expected earnings set to markedly improve. I see Cenkos has £4.1m pre-tax in for next year with EPS of £5.25p.

[valhamos] 30/6/2023 07:59

" The auditors have reported on 2022 accounts; their report includes a qualified opinion and did not contain statements under section 498(2) or (3) of the Companies Act 2006."

Still qualified.

[cfro] 30/6/2023 07:32

Hooray they are finally out lol..

Have to say i was pleasantly surprised. Was expecting much worse, (particularly the bottom line figures as we already knew revenues were ahead of forecasts).

With PAT at £1m, eps of 1.35p and cash of £4.5m, i honestly thought they would all be a lot lower so no-where near as bad as i first feared.