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 Paul Webb, Chief Executive Officer Amanda Larnder, Chief Financial Officer info@synecticsplc.com
| Tel: +44 (0) 114 280 2828
|
| Shore Capital Tom Griffiths / David Coaten
| Tel: +44 (0) 20 7408 4090 |
| Vigo Consulting Jeremy Garcia / Fiona Hetherington / Aisling Fitzgerald synectics@vigoconsulting.com | Tel: +44 (0) 20 7390 0230 |
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
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