Synectics improves H1 pre-tax profit with rise in dividend
Shares in Synectics are up almost 8% after it turned in an improved first-half pre-tax profit, along with a rise in revenue and final dividend.
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"The business is well positioned for significant further growth," said chief executive Paul Webb in a statement.
Its recommended final dividend was 2p a share, up from 1p a year ago. Pre-tax profit was £2.0m, from £0.5m, with revenue at £70.9m, from £68.5m.
"We are looking forward to a challenging year in 2017, in which the Board expects Synectics to make further satisfactory progress towards our strategic and financial objectives," it said.
Looking further ahead, the company said it expected the oil & gas market would recover, and was geared to benefit significantly when it did.
At 13:47 GMT, shares in AIM-quoted Synectics were up 7.6% to 212.5p.