Synectics PLC Trading Update

RNS Number : 2324P

Synectics PLC

09 December 2024

 

9 December 2024

 

 

Synectics plc

("Synectics" or the "Company")

 

Trading Update

FY 2024 profit expected to be materially ahead of expectations; order book growth underpins confidence in FY 2025

 

Synectics plc (AIM: SNX), a leader in advanced security and surveillance systems, provides an update on trading for the year ended 30 November 2024 ("FY 2024").

 

The Company expects profit before tax for FY 2024 to be materially ahead of market expectations*, reflecting continued momentum in the second half of the year across all of its market verticals.

 

The Company ended FY 2024 with a strong order book, totalling approximately £37.8 million (31 May 2024: £30.2 million; 30 November 2023: £29.2 million), underpinning the Board's confidence for the year ending 30 November 2025.

 

Cash at 30 November 2024 was £9.6 million (31 May 2024: £6.4 million; 30 November 2023: £4.6 million), with undrawn bank facilities of £3.0 million.

 

Synectics expects to announce its audited results for FY 2024 in early March 2025.

 

 

*Prior to this announcement, FY 2024 market expectations were revenue of £55.4m and adjusted PBT of £3.9m.

 

 

For further information, please contact:

 

Synectics plc Amanda Larnder, Chief Executive Officer and Chief Financial Officer Claire Stewart, Company Secretary email: [e-mail]	Tel: [phone] www.synecticsplc.com
Shore Capital	Tel: [phone]
Corporate Advisory - Tom Griffiths / David Coaten / Rachel Goldstein Corporate Broking - Fiona Conroy
Vigo Consulting   Jeremy Garcia / Fiona Hetherington / Peter Jacob [e-mail]	Tel: [phone]

 

About Synectics plc

 

Synectics (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, transport, 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

 

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