Synectics plc (AIM: SNX), a leader in the design, integration and support of advanced security and surveillance systems, reports its unaudited final results for the year ended 30 November 2021.

Headlines:

• Revenue: £43.6 million (2020: £44.6 million)
• Significant improvement in underlying losses¹ to £(0.6) million (2020: £(4.1) million)
• Loss before tax: £(0.6) million (2020: £(6.3) million)
• Fully diluted EPS: (2.8)p (2020: (27.7)p)
• Net cash at 30 November 2021: £4.6 million (2020: £6.9 million) with no bank debt² and undrawn facilities of £3.0 million
• Company returned to profit in the second half, as expected, on a restructured cost base
• Order book at 30 November 2021: £28.4 million (2020: £25.4 million)
• Recommended final dividend of 1.5p per share, in recognition of profitable H2 and strong balance sheet

¹Underlying (loss) represents (loss) before tax and non-underlying items; see note 4 for further details.

²Excluding IFRS 16 lease liabilities

Commenting on the results, Paul Webb, Chief Executive of Synectics said: “The second half of the year saw the Company return to profit, on a restructured cost base, delivering a significant reduction in losses. The Board is confident that the Company’s excellent customer relationships in attractive markets, coupled with its talented and committed teams, provide sound foundations for a strong recovery and sustained growth.”

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