Continued positive trading in the third quarter – FY 2024 now expected to be materially ahead of market expectations

Synectics plc (AIM: SNX), a leader in advanced security and surveillance systems, provides an update on trading for the year ending 30 November 2024 (“FY 2024”), following the conclusion of its third quarter, ended 31 August 2024.

The Company is pleased to confirm that trading in the third quarter of the year was positive, with continued momentum across its key markets.

Order intake remains strong and recent contract wins have included a $1.2m contract for the installation of a new security and surveillance system at a casino resort in the Philippines, further contract wins with Saudi Aramco, and a strategically important order for the Company’s first installation, of a new security and surveillance system for a casino resort, in Cambodia.

As a result, the Board expects the Company’s underlying PBT for FY 2024 to be materially ahead of market expectations^*.

The Company continues to focus on further strengthening its already healthy FY 2025 order book.

^* Prior to this announcement, FY 2024 market expectations were revenue of £52.9m and adjusted PBT of £3.5m
 

For further information, please contact:
Synectics plc
Amanda Larnder, Interim CEO and CFO
Claire Stewart, Company Secretary
Tel: +44 (0) 114 280 2828
info@synecticsplc.com

Shore Capital
Tom Griffiths / David Coaten / Rachel Goldstein
Fiona Conroy – Corporate Broking
Tel: +44 (0) 207 408 4090

Vigo Consulting
Jeremy Garcia / Fiona Hetherington / Peter Jacob
Tel: +44 (0) 20 7390 0230
synectics@vigoconsulting.com