Now up 50% in 6 weeks !
Still no RNS!
Can't believe the market has just woken up to this tortoise of a share that has suddenly become a hare.
Must be something more to it than that.
Happy to hang on for the ride.
In pursuit of info, I emaiied CNC to ask if they knew what was going on. Got a very prompt and pleasant reply from Jane Annear, commercial director saying they too were very pleased with SP rise but couldn't give price sensitive info to an individual shareholder. Fair enough.
I then asked if we could expect an RNS re SP rise and was also promptly and pleasantly told that this is also info they could not give to an individual shareholder !
Shame that no info forthcoming but quite happy that CNC willing to engage with shareholders.
I expect an RNS and takeover meself. Just hope they hold out for a very handsome premium.
Miton Trust bought over 1 million last week (over19% holding), and Liontrust sold over 1 million. Certainly not a dull company-better word is cautious. Statements nearly always bland or understated. This is because of the nature of their products, many of which are related to sensitive aspects of defence. Markets include major US companies, who dislike publicity about defence spending .Sooner or later this company will be a takeover target.
On last Monday the price started to rise. The next day a record 3M shares were traded in a day when the price was rising suggesting the majority, over 1.5M were buys.
Since then the SP has risen steeply on no news. Now about 25% up in just over a week.
This is welcome but unusual and trying to figure out why.
It this situation of rapid price increase on no news a company will often issue an RNS to say if it knows or doesn't know why the price is spiking.
I have no view! I've held for over 4 years having bought in at 54.75p per share. I feel they're a solid company and the dividend is consistent but a 3% capital gain in 4 years of a generally rising market suggests I can find better returns elsewhere.
due out tomorrow and as usual this board is buzzing. Market excited too with over 1K shares traded so far today.
I know CNC is a dull, conservative company but please, isn't anyone else interested or have a view.
This is the only share I own that is up over 100% since buying in (albeit many years ago) so I for one am keen to see what numbers they post tomorrow.
Still seriously undervalued. Mainly caused by PR or compliance headlining brilliant recent results as not likely to be repeated in second half, and satisfactory results expected for year. Hardly any publicity for big rise in profits and turnover. A booming niche business of high quality with many blue blood customers, especially in defence industry, but as usual ultra-cautious and keeping a low profile. Frustrating!
Blank -- did you buy?
I just started looking at this one. Where do you get the P/E of 40 from?
I see about 10 falling to about 9 in 2016.
It's encouraging that the company has been in business since 1985 so has some serious legs. Having been in the electronics industry myself, it's always difficult to gauge when a company or it's business model can be superseded by either newer, cheaper methods, or simply just blown away by competition. This competition can come from anywhere, but Asian companies are the most likely to tread on their turf. The stuff they do is not particularly high tech and seems largely based around standard off the shelf microcontroller devices and some glue put together in software for interfacing or programming a few FPGAs (Field Programmable Gate Arrays) to allow certain customer customisation or to adhere to certain protocols and communications standards.
The differentiators seem to be around it's ability and expertise in rugged environments and offering support services, although I'm not sure what % of the business comes from providing this support - will need to dig deeper.
John Lee - who writes for the FT - has been a long standing holder of this one, hence my interest. I'm going to dig into the last annual report before doing anything but it could be viewed as cheap on first glance. That's if anything can be viewed cheap these days with so much government dodgy financing and funny QE money abound.
The company makes rugged and secure electronics, mainly for defence and related consumers. There was an unexpected fall in profits last year due to problems with export licences. These seem to have been resolved, and in addition there have been three new or updated products in the last couple of months. The last news release suggested profits for the year 'broadly in line with market expectations', that is a little below what we might like.
There is a dividend due shortly, which will partly be covered from cash reserves. There is no debt. Several jobs are being advertised, suggesting that there is some expansion underway.
The PER is very high at about 40, but there a consistent profits and a good yield. The price is currently at a three year low.
I started to follow Concurrent Technologies after it was mentioned in an article on the iii website entitled "Technology losers of 2013" by Julie Fisher | Mon, 30th December 2013. The article states it was a poor year in part due to "export regulation problems with those of its embedded computer products which contain encryption technology".
It had just announced a cut in the dividend i.e. it will pay and interim, but no final dividend. I guess that means the 1.05p divi will be paid, but the final (second interim,) of 0.65p will be passed.
Thus the yield will come down from 4.25% to 2.6%. Will the export the licences get reinstated? I am currently holding KCom Group which is waiting on a big contract for a cloud based service to a department of HMG, it seems like an age.
At least CNC isn't in free fall like Imagination Technologies Grp
The niche market of intelligent I?O devices and Programmable Logic Controller (PLC) should start to grow with the recover, if CNC can export their gear.
Rich I/O feature set enhances high performance 6U VME processor board
Concurrent Technologies Plc (the "Company"), 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, is pleased to announce a further addition to its family of high performance VME processor boards. Utilizing the power-efficient 3rd generation Intel® Core processor, the VP 92x/x1x offers a very wide choice of front and rear I/O interfaces and by using XMC or PMC modules this I/O feature set can be further extended. Optional configurable proprietary integrated security features make the board highly suitable for a wide range of new and existing applications within the defence, energy, scientific and industrial markets.
The VP 92x/x1x is available in commercial and extended temperature variants with a choice of dual or quad core processors. For ease of integration, the VP 92x/x1x supports many of today's leading operating systems, including Linux®, Windows® and VxWorks®.
This launch is in line with the Company's product development strategy of designing more innovative products for complex, high technology, low to medium volume and high margin applications. These products not only provide a technology pathway for the Company's existing customers in defence and telecommunications where high-reliability and fast, high volume processing is required, but also in additional markets such as energy, scientific and industrial.
"The I/O interfaces on the VP 92x/x1x Single Board Computer have been tailored specifically to meet the requirements of our customers' applications where, in particular, additional front panel graphics and Ethernet interfaces are required. This board will particularly appeal to today's VME users looking to extend the life cycle of their existing systems and applications through enhanced processing and graphics performance."
Concurrent Technologies Plc
Glen Fawcett, Managing Director
I was disappointed by yesterday's H1 Results. T/O down and
EPS essentially also down when taking out the Tax-reduction,
H2 shall have to be remarkably good in order to bring EPS up
to 4.6p total for the year as forecast by the brokers not so very
long ago. My guess is that the brokers have been somewhat
optimistic, I have now pencilled in EPS 3.6p for the year. That
makes the shares look amply priced.at current 46p.
Managed to top up this morning at 40p and 41p. I consider this
nice and cheap. My latest information points to EPS 4.6p for
the current financial year, rising to just above 5p next year,
with dividend at 1.7p this year, rising to 1.8p next year (brokers
forecast, source Morningstar).
| intend to hold long term. Feel comfortable here, the Company
is a steady performer and has got money in the bank.
I made use of today's substantial dip, bought at at 44.5p,
plan to hold long term for decent growth combined with
very useful dividend. Rock-solid little company, with rock-
solid balance sheet, IMO.
p.s. EPS for 2012 are expected at well above 4p. The
shares deserve to trade on earnings multiple in region
of 14, IMO.
Another set of fine results for CNC. Everything up, apart from debt.
One day, hopefully soon, the market will recognise this little gem. Trouble is it a VERY conservative company. We will most probably have to rely on organic growth rather than any transformational acquisition. With luck the patient investor will be rewarded in due course.
They've done it again! These boys at Concurrent are pure genius.
Sex up the dividend policy by calling it a second interim of 095p per share rather than a final, then sneak out the news under cover of the biggest earthquake/tsunami/nuclear meltdown disaster news story in living memory and the share price goes up 3p.
You gotta hold just for the entertainment value alone.......
RNS Number : 9722X
Concurrent Technologies PLC
15 December 2010
Concurrent Technologies Plc
Launch of new Single Board Computer
Concurrent Technologies Plc ("Concurrent" or the "Company"), a world leading specialist in the design and manufacture of high-end embedded computer products, is pleased to announce the launch of its first 6U OpenVPX Single Board Computer to complement its range of embedded processor boards.
The new product is being marketed as the VR 737/08x and is based around the Intel® Core i7 embedded processor and Mobile Intel® QM57 Express chipset.
This high performance product has been designed with many customer groups in mind but the principal focus is on the defence sector given its suitability for rugged and harsh applications. As with all of Concurrent's products, extreme reliability during continual use over long periods is critical.
Glen Fawcett, CEO of Concurrent Technologies, commented:
"We enjoy a very strong alliance with Intel® and today's launch demonstrates our continued commitment to the development of leading edge Single Board Computers for the critical embedded market place using the latest Intel® processor technology.
"We have world class design and engineering teams and we believe that our competitive edge comes from our ability to identify opportunities and quickly provide innovative yet reliable products."
NexFin (Financial PR)
Nicholas Nelson +44 (0)7921 522920
Cenkos Securities plc
Ken Fleming +44 (0)131 220 6939
Beth McKiernan +44 (0)131 220 9778
All trademarks, registered trademarks and trade names used in this announcement are the property of their respective owners.
Note to Editors:
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 Intel® processors, including the latest Intel® Core i7 processors, Intel® Xeon®, Atom and Core 2 dual-core processors, the Company offers a wide range of computer products which are designed to be compliant with the most stringent industry specifications including those for products used in extremely harsh environments.
Re-reading the RNS it isn't a lost or cancelled contract, it's a postponement and the company are expecting to close by the end of 2011. Just 17 months away !!!
"At the time of such statements the Company was working towards securing an order forecast to deliver c. £1 million of revenue in the current financial year. However, it has since become clear that this order is now expected to crystallise in the year ended 31 December 2011."
Wonderful! just when I thought thsi share was starting to go somewhere, I guess its got something to do with the goverment cuts again, them politicians are costing us investors but where are we suppose to put our investments these days, I am beginning to wonder that there isnt any place that isnt effected in someway.
Steadily rising this week. Could there be contract announcement soon re; Lockheed and development of technology to counter anti-personnel devices in theatres of war? Concs. quiet on this since last statement.
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