RNS: Final Results for the Year Ended 30 November 2014
Tuesday, 10 March 2015
Synectics plc (AIM: SNX), a leader in the design, delivery and management of integrated security and surveillance systems for the world's most demanding security environments, reports its final results for the year ended 30 November 2014.
- Revenue £64.6 million (2013: £82.4 million)
- Underlying loss* £2.4 million (2013: underlying profit* £7.1 million)
- Loss before tax £3.7 million (2013: profit before tax £6.6 million)
- Underlying diluted EPS* (14.0)p (2013: 32.6p)
- Diluted basic EPS (20.6)p (2013: 29.4p)
- Net debt at 30 November 2014 £6.1 million (2013: net cash £1.2 million)
- Year-end order book £28.6 million (2013: £28.1 million)
- Cost base restructured to generate savings of £2.2 million per annum
- Launch of new Synergy 3 command and control software platform
- Opening of Synectics' Operations Centre in North Lincolnshire
*Underlying (loss)/profit represents (loss)/profit before tax and non-underlying items (which comprise restructuring costs, acquisition costs, share-based payment charge, amortisation of acquired intangibles and reclassification of available-for-sale financial assets to profit or loss). Underlying earnings per ordinary share are based on (loss)/profit after tax but before non-underlying items.
Commenting on the results, David Coghlan, Chairman, said:
"Although the impact of the decline in the global oil & gas market last year was not foreseen, Synectics has fully addressed those issues within its control that contributed to the poor financial performance in 2014.
"With a leaner cost base, strengthened order books in early 2015, and under the leadership of new Chief Executive Paul Webb, we expect the Group to deliver significantly improved results in the current financial year."
For further information, please contact:
David Coghlan, Chairman
Paul Webb, Chief Executive
Tel: +44 (0) 1527 850 080
Stockdale Securities Limited
Tom Griffiths / Henry Willcocks
Tel: +44 (0) 207 601 6100
Mark Court / Sophie Cowles / Jane Glover
Tel: +44 (0) 207 466 5000