Synectics plc (AIM: SNX), a leader in the design, integration and support of advanced security and surveillance systems, reports its audited final results for the year ended 30 November 2020.

Headlines:

• Revenue £44.6 million (2019: £68.5 million)
• Underlying loss¹ £(4.1) million (2019: profit £2.5 million)
• Loss before tax £(6.3) million (2019: profit £1.6 million)
• Underlying diluted EPS¹ (17.2)p (2019: 13.9p)
• Diluted EPS (27.7)p (2019: 9.6p)
• Net cash at 30 November 2020 £6.9 million (2019: £3.6 million; 26 Feb 2021: £4.5 million) with no debt²
• Year-end order book £25.4 million (2019: £32.7 million, 26 Feb 2021: £32.9 million)
• Simplified organisation resulting in the closure of a number of operating sites and reduced operational cost base by annualised £2.4 million
• Dividend recommencement to be reviewed during this financial year once the timing of recovery is clearer

¹Underlying (loss)/profit represents (loss/)profit before tax and non-underlying items (which comprise restructuring costs and amortisation of acquired intangibles). See note 4 for further detail. Underlying earnings per share are based on (loss)/profit after tax but before non-underlying items.

²Excluding IFRS 16 lease liabilities

Commenting on the results, Paul Webb, Chief Executive, said:

“Results have clearly been significantly affected by the pandemic, particularly in our global Gaming markets. However, the business is well placed to capitalise on recent landmark project wins, which utilise its latest technology developments.”

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