Concurrent Technologies (CNC) H1 2024 TU earnings summary

Executive summary

• Achieved record first-half results for H1 FY24, with strong revenue and profit growth year-over-year.

• Secured eight major design wins, expected to drive long-term growth across multiple regions.

• Customer order delays from late 2023 into H1 2024 have largely recovered.

Financial highlights

• Revenue for H1 FY24 reached approximately £16.8m, up from £12.1m in H1 FY23.

• Profit before tax for H1 FY24 was about £2.0m, compared to £1.0m in H1 FY23.

• Order intake for the period was £17.8m, up from £14.5m year-over-year.

Outlook and guidance

• Full year 2024 results are expected to be in line with current market expectations.

• Market consensus for 2024 is revenue of £34m and profit before tax of £4.4m.