16 September 2024
Synectics plc
("Synectics" or the "Company")
Trading Update
Continued positive trading in the third quarter - FY 2024 now expected to be materially ahead of market expectations
Synectics plc (AIM: SNX), a leader in advanced security and surveillance systems, provides an update on trading for the year ending 30 November 2024 ("FY 2024"), following the conclusion of its third quarter, ended 31 August 2024.
The Company is pleased to confirm that trading in the third quarter of the year was positive, with continued momentum across its key markets.
Order intake remains strong and recent contract wins have included a $1.2m contract for the installation of a new security and surveillance system at a casino resort in the Philippines, further contract wins with Saudi Aramco, and a strategically important order for the Company's first installation, of a new security and surveillance system for a casino resort, in Cambodia.
As a result, the Board expects the Company's underlying PBT for FY 2024 to be materially ahead of market expectations*.
The Company continues to focus on further strengthening its already healthy FY 2025 order book.
*Prior to this announcement, FY 2024 market expectations were revenue of £52.9m and adjusted PBT of £3.5m
For further information, please contact:
| Synectics plc Amanda Larnder, Interim CEO and CFO Claire Stewart, Company Secretary info@synecticsplc.com
| Tel: +44 (0) 114 280 2828
|
| Shore Capital Tom Griffiths / David Coaten / Rachel Goldstein Fiona Conroy - Corporate Broking
| Tel: +44 (0) 20 7408 4090 |
| Vigo Consulting Jeremy Garcia / Fiona Hetherington / Peter Jacob synectics@vigoconsulting.com | Tel: +44 (0) 20 7390 0230 |
About Synectics
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, transport, and critical infrastructure.
Synectics has deep industry experience in these markets and works closely with customers globally 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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