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Pretax profits up 61 per cent for the full year at Concurrent |
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Written by Business Weekly
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Monday, 19 March 2007 |
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High-end embedded computer product manufacturer Concurrent technologies has announced a 61 per cent increase in pre-tax profit on the back of a 17 per cent raise in turnover for the full year to December 2006.
The firm reported full year per-tax profit of £2.3m, up from £1.4m and turnover of £12.5m increased from £10.7m for last year. According to chairman, Michael Collins, much of the firm's engineering effort had to be diverted to achieve the technology change resulting from the introduction of the RoHS environmental regulations. “This delayed the introduction of certain new products for 2007 but we are delighted that four notable new product launches have already been announced this year, with more in the pipeline,” he said. “Our investment in compliance with environmental regulations, product development and engineering capability will lend a distinct second half bias to profits for 2007.” Following the announcement, Concurrent's share price was down one per cent to 42.5p. |
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