01 July 2016
Concurrent Technologies Plc
(the "Company")
Trading Update
Concurrent Technologies Plc (AIM: CNC), a world leading specialist in the design and manufacture of high-end embedded computer products for critical applications in the defence, aerospace, telecommunications, transportation, scientific and industrial markets, announces a trading update.
As a consequence of the recent changes in currency rates and the sharp decline in the value of sterling against the US dollar, the Company has conducted an additional review of its financial risk and trading plans. The majority of the Company's world-wide transactions are conducted in sterling and in US dollars. The value of transactions conducted by the Company in other currencies, including the Euro, is very low, and therefore these transactions have not been considered in this review. The Board is pleased to confirm that the Company's exposure to exchange risk is still mitigated to a large extent by the ability to offset receipts from sales against payments for purchases in the same currency (natural hedging) and confirms that it is still of the view that the outlook for this year as a whole remains good.
Enquiries:
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Concurrent Technologies Plc |
+44 (0)1206 752 626 |
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Newgate (Financial PR) Robyn McConnachie |
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Cenkos Securities plc (NOMAD) Nick Tulloch/Beth McKiernan |
+44 (0)131 220 9772/8 |
Note to Editors:
About Concurrent Technologies Plc
Concurrent Technologies Plc develops and manufactures high-end embedded computer products for use in a wide range of high performance applications within the telecommunications, defence, security, telemetry, scientific and aerospace markets. Using mainly Intel® processors, including the latest generation Intel® Core™ i7 processors, Intel® Xeon® and Intel® Atom™ processors, the Company offers a wide range of computer products which are designed to be compliant with industry specifications including those for products used in extremely harsh environments. Other processors now include NVIDIA® Tegra® K1 devices.
For more information on Concurrent Technologies Plc and its products please visit www.cct.co.uk.
All trademarks, registered trademarks and trade names used in this announcement are the property of their respective owners.