H1 2025 performance underpinned by solid order book and ongoing new business momentum. Trading remains comfortably in line with FY 2025 market expectations^¹

Synectics plc (AIM: SNX), a leader in advanced security and surveillance solutions, announces its unaudited interim results for the six months ended 31 May 2025 (“H1 2025” or the “Period”).

Financial highlights

• Revenue increased by 35% to £35.5 million (H1 2024: £26.3 million)
• Underlying operating profit² up 48% to £3.3 million (H1 2024: £2.2 million)
• Adjusted EBITDA³ increased by 47% to £4.2 million (H1 2024: £2.8 million)
• Adjusted, diluted earnings per share⁴ rose by 59% to 16.4 pence (H1 2024: 10.3 pence)
• Net cash at 31 May 2025 of £12.1 million with no bank debt⁵ (31 May 2024: £6.4 million, 30 November 2024: £9.6 million)
• Order book at 31 May 2025 of £35.1 million (31 May 2024: £30.2 million, 30 November 2024: £38.5 million)
• Interim dividend increased to 2.2 pence per share (H1 2024: 2.0 pence per share)

Operational highlights

• Solid customer demand, including several key contract wins:
  • £2.0 million secured with West Midlands Police
  • US$2.2 million with high-profile gaming resort in South-East Asia as well as US$4.8 million contract extension
  • £1.1 million pilot with Stagecoach, the UK's largest bus and coach operator
  • Strengthened long-standing partnership with PENN Entertainment, Inc, having secured two further contracts in the US
  • Two new customers gained in the Philippines, further expanding Synergy Software deployment in the region

• Early steps taken to strengthen partner network and build regional presence, including new senior appointments in the UAE and North America, and for the partner programme
• Announcement of Paul Williams as Chief Financial Officer, effective from 26 August 2025

Outlook

• Solid order book at 31 May 2025, for delivery across the remainder of FY 2025 and into FY 2026
• Continued contract momentum across key sectors, underpinning confidence in FY 2025
• Trading remains comfortably in line with FY 2025 market expectations¹

Commenting on the results, Amanda Larnder, Chief Executive Officer and Chief Financial Officer, said: “Synectics has delivered strong financial results for the first half, underpinned by the planned delivery of a major customer contract which contributed to meaningful growth in both revenue and profit.

“We are seeing encouraging early progress of our refreshed strategy, including building activity in our core sectors, strengthening our partner network, and continuing to invest in technology capability to support long-term growth.

“With a solid order book, a strong cash position and a clear focus, we are well placed to deliver on our longer-term priorities.”

¹FY 2025 market expectations are revenue of £65.0 million and adjusted profit before tax of £5.3 million, before share-based payments of c.£0.5 million
² Underlying operating profit represents profit before tax, finance income and costs, share-based payment charge and non-underlying items; see note 5.
³ Adjusted EBITDA represents profit before finance income and costs, tax, depreciation, amortisation, share-based payment charge and non-underlying items.
⁴ Adjusted diluted earnings per share are based on profit after tax but before share-based payment charge and non-underlying items.
⁵ Excluding IFRS 16 lease liabilities.

For further information, please contact:

Synectics plc
Amanda Larnder, Chief Executive Officer and Chief Financial Officer
Claire Stewart, Company Secretary
Tel: +44 (0) 114 280 2828
[email protected]

Shore Capital
Corporate Advisory: Tom Griffiths / David Coaten / George Payne  
Corporate Broking: Fiona Conroy  
Tel: +44 (0) 207 408 4090

Vigo Consulting
Jeremy Garcia / Fiona Hetherington / Peter Jacob
Tel: +44 (0) 20 7390 0230
[email protected]