Concurrent Technologies (CNC) H1 2026 earnings summary

Executive summary

• Achieved record first-half results for H1 2026, with revenue of £23.2m (up 10% year-over-year) and profit before tax of £3.2m (up 19%), driven by strong order intake and expanding systems business.

• Order intake surged 110% to £46.9m, matching the full previous year's record, with a significant £17m contract closed in June.

• Design wins now total £129m, supporting robust future growth as systems work increases.

• Factory capacity in Colchester has doubled, with new facilities and equipment operational to support growth.

• Systems business achieved profitability for the first time, supported by Phillips Aerospace integration and higher-margin production.

Financial highlights

• Revenue for H1 2026 was £23.2m, profit before tax £3.2m (after £114k exceptionals), and closing cash up 24% year-over-year to £9.7m.

• EBITDA increased 20% to £4.8m, with EBITDA margin at 21%.

• Gross profit up 10% to £11.8m; gross margin stable at 50.8%.

• EPS increased 5% to 2.93p.

• Net cash from operating activities turned positive, reversing a negative position from last year.

Outlook and guidance

• Board expects FY26 revenue and profit to be ahead of market expectations, supported by record order intake and backlog exceeding £68m year-to-date.

• Backlog for 2027 projected at £40–50m, with multi-year contracts providing strong revenue visibility.

• Expanded manufacturing capacity will be utilized in H2 to support ongoing growth.

• Dividend policy remains based on full-year cash and profit; £950,732 paid during the period, no interim dividend planned.