Synectics PLC Trading Update and Notification of Results (0712D)
19 Junio 2023 - 1:00AM
UK Regulatory
TIDMSNX
RNS Number : 0712D
Synectics PLC
19 June 2023
RNS 19 June 2023
Synectics plc
("Synectics" or the "Company")
Trading Update and Notification of Results
Synectics plc (AIM: SNX), a leader in advanced security and
surveillance systems, provides the following trading update for the
six months ended 31 May 2023 (" H1 2023 ").
As expected, the Company's trading in H1 2023 continued in line
with its AGM statement released on 27 April 2023, with good
progress being made compared to the same period last year. The
Company's financial results for the year ending 30 November 2023
are expected to be weighted significantly to the seasonally
stronger second half of the year (" H2 2023 ").
Progress in H1 2023 was underpinned by strong trading in the
global oil & gas market, which is expected to continue in H2
2023 and beyond. The Company has already increased supply chain and
production capacity in this sector. Progress in other markets has
been modest, with further improvements expected in H2 2023.
The Company's consolidated order book at 31 May 2023 is
materially ahead of the same date last year with a significant
proportion of this expected to trade in H2 2023. This, along with a
strong pipeline of expected orders, underpins the Board's
expectations of significantly improved trading in H2 2023.
Net cash at 31 May 2023 remained solid at approximately GBP4.0
million (31 May 2022: GBP4.2 million; 30 November 2022: GBP4.3
million) despite increased working capital commitments to support
planned, increased production requirements.
Synectics will provide a further update on trading and outlook
in its unaudited interim results announcement for H1 2023 on 11
July 2023.
For further information, please contact:
S ynectics plc Tel: +44 (0) 114 280
2828
Paul Webb, Chief Executive www.synecticsplc.com
Amanda Larnder, Finance
Director
email: info@synecticsplc.com
Shore Capital Tel: +44 (0) 20 7408
4090
Tom Griffiths / David
Coaten
About Synectics plc
Synectics plc (AIM: SNX) is a leader in advanced security and
surveillance systems that help protect people, property,
communities, and assets around the world.
The Company's expertise is in providing solutions for specific
markets where security and surveillance is critical to operations.
These include gaming, oil and gas, public space, transport, and
critical infrastructure.
Synectics has deep industry experience in these markets and
works closely with customers to deliver solutions that are tailored
to meet their needs. Technical excellence, combined with decades of
experience and long-standing customer relationships, provides
fundamental differentiation from mainstream suppliers and makes the
company a stand-out in its field.
Find out more at www.synecticsplc.com
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