Revenue and profit slip for Synectics in first half
Synectics
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16:55 19/04/24
Surveillance and networked security technology company Synectics reported revenue of £33.6m in its half-year results on Tuesday, down from £34.7m year-on-year.
FTSE AIM All-Share
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17:08 19/04/24
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The AIM-traded firm said its profit before tax was down to £1.2m for the six months ended 31 May, compared to £1.5m in the same period last year.
Its diluted earnings per share rose to 6.1p, however, from 5.9p a year earlier.
Synectics’ order book stood at £28.2m at period-end, which was a like-for-like increase of 23% since the 2018 financial year ended.
The board said the company remained in a “strong” net cash position, and raised the interim dividend to 1.3p per share, compared to the 1.2p it distributed last year.
It said a stronger performance was expected in the second half.
“With full year results expected to be in line with market expectations, Synectics is in a strong position to capitalise on a number of exciting high profile projects and harness strategic growth opportunities aligned with the development of next-generation product capabilities,” said chief executive Paul Webb.