TIDMSNX

RNS Number : 2339W

Synectics PLC

11 December 2023

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 GBP28.6 million (30 November 2022: GBP24.4 million) providing the Board with continued confidence for the year ending 30 November 2024. Net cash at 30 November 2023 was GBP4.6 million (30 November 2022: GBP4.3 million) with undrawn bank facilities of GBP3.0 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                                   Tel: +44 (0) 114 280 
  Paul Webb, Chief Executive Officer              2828 
  Amanda Larnder, Chief Financial Officer 
  info@synecticsplc.com 
 Shore Capital                                   Tel: +44 (0) 20 7408 
  Tom Griffiths / David Coaten                    4090 
 Vigo Consulting                                 Tel: +44 (0) 20 7390 
  Jeremy Garcia / Fiona Hetherington / Aisling    0230 
  Fitzgerald 
  synectics@vigoconsulting.com

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

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

TSTZZMGZVRFGFZM

(END) Dow Jones Newswires

December 11, 2023 02:00 ET (07:00 GMT)

Synectics (LSE:SNX)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Synectics Charts.
Synectics (LSE:SNX)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Synectics Charts.