Synectics PLC Trading Update (6969B)
14 Junio 2021 - 1:00AM
UK Regulatory
TIDMSNX
RNS Number : 6969B
Synectics PLC
14 June 2021
RNS 14 June 2021
Synectics plc
("Synectics" or the "Company" or the "Group")
Trading Update
Synectics plc (AIM: SNX) , a leader in the design, integration
and support of advanced security and surveillance systems, provides
the following update on trading for the six months ended 31 May
2021.
As expected, trading in the first half of this financial year
continued at similar levels to the first half of the last financial
year, delivering a much reduced estimated operating loss of
approximately GBP(0.8) million (2020: GBP(2.0) million) on revenues
of approximately GBP22 million (2020: GBP23 million). This follows
action taken last year to reduce the Group's operating cost base.
The Group's cash position remains sound, with net cash of GBP3.5
million at 31 May 2021 (28 February 2021 GBP4.5 million).
Activity in public infrastructure and transportation in the UK
and Europe held up relatively well, but the continued impact of
global travel restrictions on casinos and gaming resorts in
Asia-Pacific and the United States meant that revenues remained
subdued in what was, pre-pandemic, Synectics' largest market
sector. There are some early signs of increased customer activity
in the gaming sector in both Asia and the United States, from which
the Board expects to see some recovery in orders received by the
Company in the second half of this financial year.
The Group's major strategic focus is on integrated software
control systems for substantial smart city and infrastructure
implementations. In this area, good progress was made on the large
project for City of London Corporation and City of London Police
announced on 7 April 2021. Deployment of Synectics' innovative
hybrid cloud-based Synergy command and control system commenced
during the period, and is planned to continue into 2022. The major
project for security command and control on the S-Bahn rail network
in Berlin has continued its roll-out across the network and
delivery will be completed in this financial year. These successful
projects are expected to act as key references for similar
initiatives elsewhere, and are already generating significant
interest.
Synectics will provide a further update with the announcement of
its unaudited interim results for the six months ended 31 May 2021
on 13 July 2021 when, as previously announced, the Board is
planning to reinstate guidance on future trading.
For further information, please contact:
Synectics plc Tel: +44 (0) 114 280 2828
Paul Webb, Chief Executive
David Bedford, Finance Director
email: info@synecticsplc.com www.synecticsplc.com
Shore Capital Tel: +44 (0) 20 7408 4050
Tom Griffiths / David Coaten / Henry
Willcocks
Ends
About Synectics plc
Synectics (AIM: SNX) is a leader in the design, integration and
support of advanced security and surveillance systems that enable
clients around the world to protect their people, communities, and
assets.
Founded over 30 years ago, Synectics has deep industry
experience across gaming, energy, urban transport, public space and
critical infrastructure projects. The Group's expert engineering
teams work in partnership with customers to create integrated
product and technology solutions, proven in the most complex and
demanding operating environments.
Find out more at www.synecticsplc.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTFZGMVKMGGMZM
(END) Dow Jones Newswires
June 14, 2021 02:00 ET (06:00 GMT)
Synectics (LSE:SNX)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Synectics (LSE:SNX)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024