Concurrent Technologies PLC Trading Update (8184C)

TIDMCNC

RNS Number : 8184C

Concurrent Technologies PLC

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:

 
Concurrent Technologies 
 Plc 
 Glen Fawcett, CEO                +44 (0)1206 752 626 
 
Newgate (Financial PR) 
 Bob Huxford 
 Robyn McConnachie               +44 (0)207 653 9850 
 
Cenkos Securities plc (NOMAD) 
 Neil McDonald                   +44 (0)131 220 9771 
 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(R) processors, including the latest generation Intel(R) Core(TM) i7 processors, Intel(R) Xeon(R) and Intel(R) Atom(TM) 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(R) Tegra(R) 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.

This information is provided by RNS

The company news service from the London Stock Exchange

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