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Investors eye Concurrent Technologies as it navigates chip shortage storm

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A computer chip, also known as semiconductor.

Concurrent Technologies has enjoyed a share price jump today after confirming to shareholders that it has successfully navigated the chip shortage storm so far.

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.

Shares rose by 10 per cent to 88p per share by early afternoon.  

The company, which works on computer solutions for military vehicles, trains and planes, has also entered the new year with a “robust order book” as it looks to pay a final dividend to shareholders once it has released its full-year financial results for 2021.

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.