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Interim Results for the Six Months Ended 31 May 2016

Tuesday, 19 July 2016

Synectics plc (AIM: SNX), a leader in the design, integration, control and management of advanced surveillance technology and networked security systems, reports its unaudited interim results for the six months ended 31 May 2016.

Highlights

  • Revenue £32.1 million (2015: £32.6 million) 
  • Underlying profit1 £0.3 million (2015: £0.5 million)
  • Profit before tax £0.2 million (2015: loss before tax £0.1 million)
  • Order book £35.7 million, up over 34% since the year end (30 November 2015: £26.6 million; 31 May 2015: £32.1 million)
  • Underlying diluted EPS1 1.6p (2015: 2.5p) and diluted EPS 1.0p (2015: (0.6)p)
  • Net debt at 31 May 2016 £1.7 million (30 November 2015: net cash £0.5 million; 31 May 2015: net debt £2.8 million)
  • Multi-million pound project wins to provide integrated surveillance solutions for a new casino resort in Macau and a mega-resort in the Philippines
  • Secured a major contract from one of the premier Las Vegas casinos with over 5,000 video channels 
  • Contract wins continue with contract extension for Go-Ahead and new UK mainline rail infrastructure project

1 Underlying profit represents profit before tax and non-underlying items (which comprise restructuring costs, share-based payment charge and amortisation of acquired intangibles).  Underlying earnings per ordinary share are based on profit after tax but before non-underlying items.

Commenting on the results, Paul Webb, Chief Executive, said: 

“We have delivered a substantial increase in our order books across the business, laying the foundations for a strong second half, and have built a highly capable team with the clear sense of purpose to lead and deliver both solid performance and future growth.”

Download the full statement - Interim results for the six months ended 31st May 2016


For further information, please contact:

Synectics plc 
Paul Webb, Chief Executive 
Mike Stilwell, Finance Director 
Tel: +44 (0) 1527 850 080
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www.synecticsplc.com

Stockdale Securities Limited
Tom Griffiths / Henry Willcocks
Tel: +44 (0) 207 601 6100 

Media enquiries: 
Buchanan
Mark Court / Sophie Cowles / Jane Glover
Tel: +44 (0) 207 466 5000
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