Synectics PLC AGM Statement (0620X)

TIDMSNX

RNS Number : 0620X

Synectics PLC

25 April 2019

25 April 2019

Synectics plc

("Synectics" or the "Company")

AGM Statement

Synectics plc (AIM: SNX), a leader in the design, integration, control and management of advanced surveillance technology and networked security systems, is holding its Annual General Meeting at 11.00am today, at which the Chairman, David Coghlan, will make the following statement:-

"The current financial year has shown a continuation of the trends in Synectics' markets as described in the Company's recent Annual Report. The global gaming security and surveillance sector continues to perform strongly, but new business in other sectors has been generally quite subdued.

"In the UK, in particular, since the beginning of March 2019, Synectics has experienced a pattern of order deferrals and, in some cases, customer-led delays in the progress of existing contracts, which we believe is at least partly down to uncertainties related to the Brexit situation. The effect of these recent deferrals and delays is that profits will be substantially more weighted to the second half of this financial year than originally budgeted. Although management still anticipates that results for the full year will be in line with market expectations, the second half weighting now envisaged has inevitably increased delivery timing risks.

"The overall pipeline of expected new business remains strong and we anticipate being able to announce some important strategic contract wins in the coming months."

For further information, please contact:

 
 Synectics plc                        Tel: [phone] 
 David Coghlan, Chairman 
 Paul Webb, Chief Executive 
 
 Email: [e-mail] 
  www.synecticsplc.com 
 Stockdale Securities Limited       Tel: [phone] 
 Tom Griffiths / Henry Willcocks 
 
 

For further media information, please contact:

 
 Intelligent Conversation        Tel: [phone] 
 Claire Evans 
 Email: [e-mail] 
 

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April 25, 2019 02:40 ET (06:40 GMT)