Synectics PLC Trading Update (0132Z)
December 12 2017 - 2:00AM
UK Regulatory
TIDMSNX
RNS Number : 0132Z
Synectics PLC
12 December 2017
12 December 2017
Synectics plc
("Synectics" or "the Group")
Year End Trading Update
Synectics plc (AIM: SNX), a leader in the design, integration,
control and management of advanced surveillance technology and
networked security systems, provides the following update on
trading for the year ended 30 November 2017.
Consolidated profits are anticipated to be in line with market
expectations. This represents growth of over 10% in underlying
profits before tax compared with the year ended 30 November 2016,
on revenues that were broadly flat.
The Group's consolidated operating margin increased primarily as
a result of better than anticipated performance in the
higher-margin gaming surveillance sector, which was offset by
weaker performance in the lower-margin UK on-vehicle market.
After an exceptionally strong year to 30 November 2016, which
unusually included two major new casino projects in the Far East,
Synectics' performance in the Gaming sector in the financial year
just ended was better than anticipated by the Board, as increasing
inroads were made with major casino customers in the US. Deliveries
of surveillance systems to the UK bus market were solid in the
first half, but declined in the latter part of the year on the back
of a 14% decline in UK new bus registrations in the third calendar
quarter. Elsewhere, as expected, the oil and gas sector remained
subdued and market conditions in the Group's other sectors remain
positive.
Synectics' net cash at the year end was approximately GBP3.9
million, up from GBP2.2 million at 30 November 2016.
The Group's final audited results for the year to 30 November
2017 will be released on or around 20 February 2018.
For further information, please contact:
Synectics plc Tel: +44 (0) 1527 850 080
Paul Webb, Chief Executive www.synecticsplc.com
Mike Stilwell, Finance
Director
email: info@synecticsplc.com
Stockdale Securities Tel: +44 (0) 20 7601 6100
Tom Griffiths / Henry
Willcocks
Media enquiries:
Intelligent Conversation Tel: +44 (0) 161 212 1613
Claire Evans
email: claire@weareic.com
This information is provided by RNS
The company news service from the London Stock Exchange
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