LONDON (ShareCast) - (ShareCast News) - Concurrent Technologies' shares are up almost 2% as the market liked its full-year results, news of ongoing investment in R&D and that it is continuing to look for acquisitions alongside its organic-growth potential.
"We are currently witnessing numerous opportunities to introduce our highly innovative technology to new and existing customers," said chairman Michael Collins.

"To best meet these opportunities our strategy is to continue to invest in R&D to ensure a constant expansion of our advanced product range," he said.

Collins noted that Concurrent continued to look for acquisition options but there was plenty of scope for internal organic growth where there were "opportunities to grow the business into new market areas without taking unacceptable risks."

He added that sales and new interest in Concurrent's products and services arising this year had been encouraging and that the company's current healthy order book gave it confidence in its performance for 2017.

Concurrent recorded a full-year pre-tax profit up 6.2% to £2.9m, from £2.7m, with dividend rising 10.5% to 2.1p a share, from 1.9p. Turnover, however, had slipped to £16.4m, from £17.1m. The company had also lifted its gross margin to 54.2%, from 50.6%.

At 13:48 GMT, shares in AIM-listed Concurrent were up 1.72% to 59p each.

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