Synectics reports positive progress backed by 'solid' order intake
Synectics PLC on Monday said trading is ‘comfortably in line with market expectations’, underpinned by a strong order in intake.
In response, shares in the Sheffield, England-based provider of advanced security and surveillance systems solutions rose 0.3% to 323.55 pence each in London on Monday morning.
Synectics said it has continued to see solid order intake and ongoing new business momentum in the six months ended May 31.
‘Progress has been positive in the year to date, securing extensions and repeat orders with existing long-term customers across a variety of sectors and geographies, in addition to securing new customer mandates,’ the company said in a statement.
‘The order book remains strong, with a number of sizeable projects due to be delivered in the second half of the year and beyond’, the firm added.
As a result, trading for the year ending November is ‘comfortably’ in line with market expectations, in addition to maintaining a strong cash position, the company said.
Synectics said full-year market expectations for revenue are £65.0 million and adjusted pretax profit of £5.3 million before share-based payments of £0.5 million.
In the year to November 2024, Synectics reported revenue of £55.8 million and adjusted pretax profit of £4.7 million.
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