Trading Update
FY 2023 results expected materially ahead of market expectations, with strong order book of £28.6m.
vs expectations: ahead
- Order book £28.6m (prior £24.4m)
- Net cash £4.6m (prior £4.3m)
- Undrawn bank facilities £3.0m
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Synectics plc (AIM: SNX), a leader in advanced security and surveillance systems, provides an update on trading for the year ended 30 November 2023 ("FY 2023").
The Company expects results for FY 2023 to be materially ahead of market expectations, reflecting strong trading in the second half, particularly in the oil & gas market.
Additionally, the Company ended FY 2023 with a strong order book, totalling £28.6 million (30 November 2022: £24.4 million) providing the Board with continued confidence for the year ending 30 November 2024. Net cash at 30 November 2023 was £4.6 million (30 November 2022: £4.3 million) with undrawn bank facilities of £3.0 million.
The Company remains focused on the delivery of specialist surveillance systems - including a flexible, open-architecture software platform and specialist hardware to meet exacting requirements in challenging environments - to targeted specialist markets, including gaming, oil & gas, and public space.
Synectics expects to announce audited results for FY 2023 in late February 2024.
Find out more at www.synecticsplc.com
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.