Synectics PLC AGM Statement (0620X)

TIDMSNX

RNS Number : 0620X

Synectics PLC

25 April 2019

Synectics plc

("Synectics" or the "Company")

AGM Statement

Synectics plc (AIM: SNX), a leader in the design, integration, control and management of advanced surveillance technology and networked security systems, is holding its Annual General Meeting at 11.00am today, at which the Chairman, David Coghlan, will make the following statement:-

"The current financial year has shown a continuation of the trends in Synectics' markets as described in the Company's recent Annual Report. The global gaming security and surveillance sector continues to perform strongly, but new business in other sectors has been generally quite subdued.

"In the UK, in particular, since the beginning of March 2019, Synectics has experienced a pattern of order deferrals and, in some cases, customer-led delays in the progress of existing contracts, which we believe is at least partly down to uncertainties related to the Brexit situation. The effect of these recent deferrals and delays is that profits will be substantially more weighted to the second half of this financial year than originally budgeted. Although management still anticipates that results for the full year will be in line with market expectations, the second half weighting now envisaged has inevitably increased delivery timing risks.

"The overall pipeline of expected new business remains strong and we anticipate being able to announce some important strategic contract wins in the coming months."

For further information, please contact:

 
 Synectics plc                        Tel: +44 (0) 1527 850 080 
 David Coghlan, Chairman 
 Paul Webb, Chief Executive 
 
 Email: info@synecticsplc.com 
  www.synecticsplc.com 
 Stockdale Securities Limited       Tel: +44 (0) 20 7601 6100 
 Tom Griffiths / Henry Willcocks

For further media information, please contact:

 
 Intelligent Conversation        Tel: +44 (0) 161 212 1613 
 Claire Evans 
 Email: claire@weareic.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.

END

AGMGLGDSIXDBGCU

(END) Dow Jones Newswires

April 25, 2019 02:40 ET (06:40 GMT)

Synectics (LSE:SNX)
Historical Stock Chart
From Apr 2024 to May 2024