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 £28.6 million (30 November 2022: £24.4 million) providing the Board with continued confidence for the year ending 30 November 2024. Net cash at 30 November 2023 was £4.6 million (30 November 2022: £4.3 million) with undrawn bank facilities of £3.0 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
Paul Webb, Chief Executive Officer
Amanda Larnder, Chief Financial Officer
Tel: +44 (0) 114 280 2828

Shore Capital
Tom Griffiths / David Coaten
Tel: +44 (0) 20 7408 4090

Vigo Consulting
Jeremy Garcia / Fiona Hetherington
Tel: +44 (0) 20 7390 0230