REG - Synectics PLC - Trading Update

SynecticsAnnouncement

11/12/2023 07:00

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RNS Number : 2339W  Synectics PLC  11 December 2023

11 December 2023

 

 

Synectics plc

("Synectics" or the "Company")

 

Trading Update

 

Synectics plc (AIM: SNX), a leader in advanced security and surveillance
systems, provides an update on trading for the year ended 30 November 2023
("FY 2023").

 

The Company expects results for FY 2023 to be materially ahead of market
expectations, reflecting strong trading in the second half, particularly in
the oil & gas market.

 

Additionally, the Company ended FY 2023 with a strong order book, totalling
£28.6 million (30 November 2022: £24.4 million) providing the Board with
continued confidence for the year ending 30 November 2024. Net cash at 30
November 2023 was £4.6 million (30 November 2022: £4.3 million) with undrawn
bank facilities of £3.0 million.

 

The Company remains focused on the delivery of specialist surveillance systems
- including a flexible, open-architecture software platform and specialist
hardware to meet exacting requirements in challenging environments - to
targeted specialist markets, including gaming, oil & gas, and public
space.

 

Synectics expects to announce audited results for FY 2023 in late February
2024.

 

 

For further information, please contact:

 

 Synectics plc                                             Tel: +44 (0) 114 280 2828

 Paul Webb, Chief Executive Officer

 Amanda Larnder, Chief Financial Officer

 info@synecticsplc.com

 Shore Capital                                             Tel: +44 (0) 20 7408 4090

 Tom Griffiths / David Coaten

 Vigo Consulting                                           Tel: +44 (0) 20 7390 0230

 Jeremy Garcia / Fiona Hetherington / Aisling Fitzgerald

 synectics@vigoconsulting.com

 

 

About Synectics plc

 

Synectics plc (AIM: SNX) is a leader in advanced security and surveillance
systems that help protect people, property, communities, and assets around the
world.

 

The Company's expertise is in providing solutions for specific markets where
security and surveillance are critical to operations. These include gaming,
oil and gas, public space, transportation, and critical infrastructure.

 

Synectics has deep industry experience in these markets and works closely with
customers to deliver solutions that are tailored to meet their needs.
Technical excellence, combined with decades of experience and long-standing
customer relationships, provides fundamental differentiation from mainstream
suppliers and makes the Company a stand out in its field.

 

Find out more at www.synecticsplc.com
(https://url.avanan.click/v2/___http:/www.synecticsplc.com___.YXAxZTpzaG9yZWNhcDphOm86MjVlNGYzNDE0ODA4ZmEyYTA3NWZkMDliMGFkZWNiMDU6Njo5NjM3OjYyMDQ4Y2FhOTE2MmMzMWMzYjFjN2I2YmZhYzJkZWI3MGU4MGViNDJiNGU4Y2RhNjI5YjdjMGZhMDE0ZWIwZDQ6cDpU)

 

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