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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Synectics Plc | LSE:SNX | London | Ordinary Share | GB0007156838 | ORD 20P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 187.50 | 180.00 | 195.00 | 187.50 | 187.50 | 187.50 | 4,908 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Elec Apparatus & Equip-whsl | 46.37M | 1.47M | 0.0867 | 21.63 | 31.67M |
TIDMSNX
RNS Number : 2478R
Synectics PLC
08 December 2016
8 December 2016
Synectics plc
("Synectics" or "the Group")
Year End Trading Update
Synectics plc (AIM: SNX), a leader in the design, integration, control and management of advanced surveillance technology and networked security systems, provides the following update on trading for the year ended 30 November 2016.
Consolidated revenues for the year just ended are estimated to have been approximately GBP71 million, compared with GBP68.5 million in the previous year. Underlying results are anticipated to be in line with market expectations.
Net cash at the year end was approximately GBP2.0 million, up from GBP0.5 million at the prior year end. This cash inflow was achieved despite high levels of activity in the final two months of the financial year which meant that short term levels of customer receivables and accrued revenue at 30 November 2016 were abnormally high. This is expected to unwind in the first few months of 2017.
Conditions continued to be difficult in the oil & gas sector and, whilst market sentiment seems currently to be improving, we do not expect a resumption of significant growth in this sector before 2018. During the year, we reduced our manufacturing capacity in this sector to reflect market conditions, whilst continuing to retain capability.
In contrast, Synectics' revenues from surveillance systems in the gaming industry enjoyed an exceptionally strong year, with two major new-build casino projects being delivered in the Far East.
Trading in other sectors during the year was generally solid, and market conditions remain positive. Further integration of Synectics' product portfolio, development and sales activities across our transportation and critical infrastructure businesses has positioned the Group well for this key area of growth.
The Group's final results for the year to 30 November 2016 will be released on or around 21 February 2017.
For further information, please contact:
Synectics plc Tel: +44 (0) 1527 850 080 David Coghlan, Chairman www.synecticsplc.com Paul Webb, Chief Executive Mike Stilwell, Finance Director email: info@synecticsplc.com Stockdale Securities Tel: +44 (0) 20 7601 6100 Tom Griffiths / Henry Willcocks
Media enquiries:
Buchanan Tel: +44 (0) 20 7466 5000 Mark Court / Sophie Cowles / Jane Glover email: synectics@buchanan.uk.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
December 08, 2016 02:00 ET (07:00 GMT)
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