Synectics plc announces that it has been awarded an £800,000 contract with a new customer – a major UK utility provider – to deliver a multi-site deployment of the Company’s proprietary software platform, Synergy (the “Contract”).
Delayed Share Price: 187.50p
Synectics plc (AIM: SNX), a leader in the design, integration and support of advanced security and surveillance systems, provides the following trading update for the financial year ended 30 November 2021.
Trading has continued broadly in line with the Board’s expectations as set out in the Company’s interim results announcement of 13 July 2021. Underlying results for the second half of the Group’s financial year ended 30 November 2021 are expected to show a modest profit, resulting in an underlying loss for the full year lower than that recorded in the first half.
The Group’s net cash balance as at 30 November 2021 was £4.4 million (31 May 2021: £3.5 million, 30 November 2020: £6.9 million), with no bank debt and undrawn bank facilities of £3.0 million.
For further information, please contact:
Synectics plc
Paul Webb, Chief Executive
David Bedford, Finance Director
Tel: +44 (0) 114 280 2828
www.synecticsplc.com
info@synecticsplc.com
Shore Capital
Tom Griffiths / Henry Willcocks / David Coaten
Tel: +44 (0) 20 7408 4050