Investors eye Concurrent Technologies as it navigates chip shortage storm
The global shortage of semi-conductor chips amid the pandemic has prompted several automotive and technology firms to draw back production due to the restricted supply over the past 12 months.
However, the London-listed computer products firm said today that it expects revenues and profitability to be slightly ahead of market expectations – despite the worldwide component supply chain struggles.
Concurrent’s Dr Miles Adcock said: “I am delighted with the 2021 trading performance, in particular how the experienced management team and dedicated staff enabled Concurrent to minimise impact of the global supply chain issues, and I am confident in the long term prospects for the business.”
It follows Volvo forecasting the shortage to fall into the new year, as its profits sink as a result of curbed production.