Trading Update
FY24 expected materially ahead of market expectations, with strong order intake including contracts in Philippines and Cambodia.
vs expectations: ahead
- FY 2024 market expectation: Revenue £52.9m
- FY 2024 market expectation: Adjusted PBT £3.5m
- Philippines contract $1.2m
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Continued positive trading in the third quarter - FY 2024 now expected to be materially ahead of market expectations
Synectics plc (AIM: SNX), a leader in advanced security and surveillance systems, provides an update on trading for the year ending 30 November 2024 ("FY 2024"), following the conclusion of its third quarter, ended 31 August 2024.
The Company is pleased to confirm that trading in the third quarter of the year was positive, with continued momentum across its key markets.
Order intake remains strong and recent contract wins have included a $1.2m contract for the installation of a new security and surveillance system at a casino resort in the Philippines, further contract wins with Saudi Aramco, and a strategically important order for the Company's first installation, of a new security and surveillance system for a casino resort, in Cambodia.
As a result, the Board expects the Company's underlying PBT for FY 2024 to be materially ahead of market expectations*.
The Company continues to focus on further strengthening its already healthy FY 2025 order book.
*Prior to this announcement, FY 2024 market expectations were revenue of £52.9m and adjusted PBT of £3.5m
Find out more at www.synecticsplc.com
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