RNS: Interim Results for the Six Months Ended 31 May 2015

Tuesday, 21 July 2015

Synectics plc (AIM: SNX), a leader in the design, delivery and management of integrated security and surveillance systems for the world’s most demanding security environments, reports its unaudited interim results for the six months ended 31 May 2015.

Key Points

  • Revenue £32.6 million (2014: £31.8 million)
  • Underlying profit1 £0.5 million (2014: underlying loss1 £(2.5) million)
  • Loss before tax £(0.1) million (2014: £(2.6) million)
  • Underlying diluted EPS1 2.5p (2014: (10.8)p)
  • Diluted basic EPS (0.6)p (2014: (11.5)p)
  • Net debt at 31 May 2015 £2.8 million (30 November 2014: £6.1 million; 31 May 2014: £5.1 million)
  • Order book £32.1 million (30 November 2014: £28.6 million; 31 May 2014: £32.9 million)
  • Jakarta International Airport command & control system contract secured
  • Major expansion contract for Singapore casino
  • Synergy 3 deployed for Deutsche Bahn in Nuremberg main railway station

1 Underlying profit/(loss) represents loss 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 loss after tax but before non-underlying items

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

"Trading in the first half of this year was slightly better than expected and I am pleased with progress so far."

“We have made solid progress implementing the recovery plan and fixing the performance issues within our control. Although continuing market uncertainties have led to a reduction in our profit expectations for the full year, the first half result is a solid indication that we are addressing the right things and focussing our efforts on the areas of critical importance.”

Download the full statement - Interim results for the six months ended 31st May 2015

For further information, please contact:

Synectics plc
Paul Webb, Chief Executive
Tel: +44 (0) 1527 850 080

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

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


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