Concurrent Technologies (AIM:CNC) gained on Monday morning after unveiling record interim results which showed a jump in revenue and profit over the first half of the year.
Pre-tax profit more than doubled to £2.3 million over the six months to June, the computer products and systems maker reported, on the back of a 39% increase in revenue to £16.8 million.
This followed eight major design wins across the US, UK, Europe and Asia Pacific over the first half of the year, Concurrent said, equalling the number secured over the entirety of last year.
Concurrent added these provided “a long-term expectation of substantive growth,” with a US$6 million (£4.6 million) US defence contract over the period marking its highest ever.
Order intake ticked up 23% to £17.8 million during the first half, with cash sitting almost three times higher at £8.9 million as of June.
Chief executive Miles Adcock noted the “record financial performance” followed a transformation over the last three years.
He stated: “We have entered the second half of the year with good momentum and remain focused on managing cost and investment to drive substantial growth in the coming years across our products and systems divisions.”
Shares climbed 6.6% to 130.1p.