Synectics

SNX · AIM · Industrial Goods and Services · mcap £34m · 197.5p

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Financials · LTM to 31 May 26

Source: results 18 Aug 26 ↗

Revenue: –
Operating profit: –
Net income: –
Free cash flow: –
Net cash: £10.5m
Market cap: £34.1m
EV / EBIT: –
FCF yield: –
Price / book: 0.8×

Latest half-year · H1 26 vs H1 25 results 18 Aug 26 ↗

Revenue: £22.2m
Operating profit: −£496k
Net income: −£381k
Cash from operations: −£1.6m

Extracted automatically from the company's results announcements; check the source before relying on a figure. Not investment advice.

As reported Key figures · multi-year

Income statement Balance sheet Cash flow

Half-year Results, published 18 Aug 26 · read the announcement ↗

Consolidated income statement · For the six months ended 31 May 2026 · Unaudited six months ended 31 May 2026 Unaudited six months ended 31 May 2025


Underlying Non- underlying items (note Total Underlying Non- underlying items (note Total	5)	5)
Notes £'000 £'000 £'000 £'000 £'000	£000
Revenue	22,239	-	22,239	35,485	-	35,485
Cost of sales	(11,606)	-	(11,606)	(20,944)	-	(20,944)
Gross profit	10,633	-	10,633	14,541	-	14,541
Operating expenses	(10,833)	(296)	(11,129)	(11,567)	-	(11,567)
Adjusted 1 EBITDA	1,010	(296)	714	4,177	-	4,177
Share-based payment charge	(120)	-	(120)	(284)	-	(284)
Depreciation and amortisation	(1,090)	-	(1,090)	(919)	-	(919)
Operating (loss) / profit	(200)	(296)	(496)	2,974	-	2,974
Finance income	99	-	99	69	-	69
Finance costs	(46)	-	(46)	(44)	-	(44)
(Loss) / profit before tax	(147)	(296)	(443)	2,999	-	2,999
Income tax credit / (expense)	14	48	62	(383)	-	(383)
(Loss) / profit for the period attributable to equity holders of the Parent	(133)	(248)	(381)	2,616	-	2,616
(Loss) / earnings per share
Basic	(2.2)p	15.4p
Diluted	(2.2)p	14.8p
Adjusted 2 basic	(0.1)p	17.1p
Adjusted 2 diluted	(0.1)p	16.4p

Consolidated statement of financial position · As at 31 May 2026

	Unaudited 31 May 2026 £000	Unaudited 31 May 2025 £000	30 Nov 2025 £000
Non-current assets
Property, plant and equipment	4,001	3,634	3,535
Goodwill and intangible assets	23,679	22,706	23,300
Deferred tax assets	1,116	1,665	1,097
	28,796	28,005	27,932
Current assets
Inventories	7,190	6,678	6,426
Trade and other receivables	11,140	13,046	11,021
Contract assets	3,408	4,825	5,237
Cash and cash equivalents	10,498	12,120	14,141
	32,236	36,669	36,825
Total assets	61,032	64,674	64,757
Current liabilities
Trade and other payables	(9,121)	(13,037)	(12,090)
Contract liabilities	(3,151)	(3,168)	(3,004)
Lease liabilities	(1,259)	(650)	(643)
Tax liabilities	(614)	(638)	(1,159)
Provisions	(981)	(868)	(993)
	(15,126)	(18,361)	(17,889)
Non-current liabilities
Provisions	(1,041)	(605)	(1,047)
Lease liabilities	(993)	(1,034)	(1,011)
Deferred tax liabilities	(1,060)	(964)	(1,068)
	(3,094)	(2,603)	(3,126)
Total liabilities	(18,220)	(20,964)	(21,015)
Net assets	42,812	43,710	43,742
Equity attributable to equity holders of the Parent
Called up share capital	3,559	3,559	3,559
Share premium account	16,043	16,043	16,043
Merger reserve	9,971	9,971	9,971
Other reserves	(2,229)	(1,223)	(2,216)
Currency translation reserve	726	669	824
Retained earnings	14,742	14,691	15,561
Total equity	42,812	43,710	43,742

Consolidated cash flow statement · For the six months ended 31 May 2026

	Unaudited six months ended 31 May 2026 £000	Unaudited six months ended 31 May 2025 £000
Cash flows from operating activities
(Loss)/profit for the period	(381)	2,616
Income tax (credit) / charge	(62)	383
Finance income	(53)	(25)
Depreciation and amortisation charge	1,090	919
Loss on disposal of non-current assets	4	-
Non-underlying items	296	-
Cash flow relating to non-underlying items	(277)	-
Net foreign exchange differences	84	143
Movement in provisions and other non-cash movement	(125)	230
Share-based payment charge	120	284
Operating cash flows before movement in working capital	696	4,550
(Increase) / decrease in inventories	(668)	2,489
Decrease in receivables and contract assets	1,514	1,323
(Decrease) in payables and contract liabilities	(2,666)	(3,395)
Cash (used in) / generated from operations	(1,124)	4,967
Tax (paid)	(485)	(213)
Net cash (used in) / generated from operating activities	(1,609)	4,754
Cash flows from investing activities
Purchase of property, plant and equipment	(91)	(259)
Capitalised development costs	(666)	(615)
Purchased software	(194)	(223)
Net cash used in investing activities	(951)	(1,097)
Cash flows from financing activities
Lease payments	(449)	(415)
Net interest received / (paid)	100	68
Share scheme outflows 1	(90)	-
Dividends paid	(481)	(427)
Net cash used in financing activities	(920)	(774)
Net (decrease) / increase in cash and cash equivalents	(3,480)	2,883
Effect of exchange rate changes on cash	(163)	(322)
Cash and cash equivalents at the beginning of the period	14,141	9,559
Cash and cash equivalents at the end of the period	10,498	12,120
Notes
For the six months ended 31 May 2026
1 General information
2 Basis of preparation
3 Alternative performance measures
Unaudited six months ended 31 May 2026 Unaudited six months ended 31 May 2025
Underlying Non- underlying items (note Total Underlying Non- underlying items (note Total	5)	5)
£'000 £'000 £'000 £'000 £'000	£000
Profit before tax	-	2,999
Add back
Finance income and costs	-	(25)
Share-based payments	-	284
Adjusted EBIT	-	3,258
Depreciation	551	551
Amortisation	-	368
Adjusted EBITDA	-	4,177
Adjusted EPS
4 Segmental analysis
Revenue by operating segment
Systems	11,966	23,597
Ocular	11,832	12,563
Total segmental revenue	23,798	36,160
Reconciliation to consolidated revenue
Intra-Group sales	(1,559)	(675)
	22,239	35,485
Underlying operating profit / (loss) by operating segment
Systems	160	3,922
Ocular	975	762
Total segmental underlying operating profit	1,135	4,684
Reconciliation to consolidated underlying operating profit / (loss)
Central costs	(1,335)	(1,710)
	(200)	2,974
Underlying operating profit / (loss)	(200)	2,974
Non-underlying items	(296)	-
	(496)	2,974
5 Non-underlying items
Costs associated with new ERP system	107	-
Costs associated with restructuring and transformation	189	-
	296	-
6 Taxation
7 Dividends
8 Earnings per share
Earnings per share are as follows
Basic (loss) / earnings per share	(2.2)	15.4
Diluted (loss) / earnings per share	(2.2)	14.8
Adjusted basic (loss) / earnings per share	(0.1)	17.1
Adjusted diluted (loss) / earnings per share	(0.1)	16.4
The calculations of basic and adjusted earnings per share are based upon
(Loss) / earnings for basic and diluted earnings per share	(381)	2,616
Share-based payments	120	284
Non-underlying items	296	-
Tax thereon	(48)	-
Earnings for adjusted basic and diluted earnings per share	(13)	2,900
Weighted average number of ordinary shares - basic calculation	17,026	16,957
Dilutive potential ordinary shares arising from share options	30	698
Weighted average number of ordinary shares - diluted calculation	17,056	17,655

As published in the company's results announcement: every line, heading and subtotal, read automatically from the text. Figures in brackets are negative; units as stated in the column headings.

Income statement Cash flow Balance sheet

Annual Half-yearly

Latest report: H1 26 (six months to 31 May 26), published 18 Aug 26 · read the results ↗

£m unless stated · newest first · italic = calculated (LTM, H2 = FY − H1) · hover a value for its source

	H1 26	vs H1 25	H1 25
Revenue to operating profit
Revenue	22.2	−37%	35.5
Gross profit	10.6	−27%	14.5
Adjusted EBITDA	1.0	−76%	4.2
Exceptional / adjusting items	(0.3)	n/m	0.0
Operating profit	(0.5)	n/m	3.0
Depreciation (owned assets)	0.6	+11%	0.6
Amortisation	0.5	+30%	0.4
Share-based payments	(0.1)	−58%	(0.3)
Operating profit to net income
Finance costs	(0.0)	n/m	(0.0)
Profit before tax	(0.4)	n/m	3.0
Tax	0.1	n/m	(0.4)
Net income (owners)	(0.4)	n/m	2.6
Per share
EPS basic	(2.2p)	–	15.4p
EPS diluted	(2.2p)	–	14.8p

	H1 26	vs H1 25	H1 25
Operating activities
Cash from operations	(1.6)	n/m	4.8
Tax paid	(0.5)	+128%	(0.2)
Investing activities
Capex (PP&E)	(0.1)	−65%	(0.3)
Financing activities
Lease principal paid	(0.4)	+8%	(0.4)
Dividends paid	(0.5)	+13%	(0.4)

	Latest May 26
Non-current assets
Property, plant & equipment	4.0
Current assets
Inventories	7.2
Trade receivables	11.1
Cash	10.5
Total assets	61.0
Current liabilities
Trade payables	9.1
Lease liabilities, current	1.3
Non-current liabilities
Lease liabilities, non-current	1.0
Total liabilities	18.2
Equity
Total equity	42.8
Net cash and other figures
Net cash / (debt) ex leases	10.5
Order book	26.4

	H1 26	H2 25	H1 25
Non-current assets
Property, plant & equipment	4.0	3.5	3.6
Current assets
Inventories	7.2	6.4	6.7
Trade receivables	11.1	11.0	13.0
Cash	10.5	14.1	12.1
Total assets	61.0	64.8	64.7
Current liabilities
Trade payables	9.1	12.1	13.0
Lease liabilities, current	1.3	0.6	0.7
Non-current liabilities
Lease liabilities, non-current	1.0	1.0	1.0
Total liabilities	18.2	21.0	21.0
Equity
Total equity	42.8	43.7	43.7
Net cash and other figures
Net cash / (debt) ex leases	10.5	14.1	12.1
Order book	26.4	26.5	35.1

No annual income statement figures were extracted for this company yet. See the latest results ↗

Line items extracted automatically from each results announcement; when a later report restates a period, the later figure is shown. LTM and H2 are calculated from reported periods. Check the source before relying on a figure.

Company filings. Not investment advice.