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Synectics PLC - Sheffield, England-based security systems company - Says for the six months ended May 31, business remained ‘patchy and difficult to predict’. Notes activity levels in major end-user markets, particularly in Oil & Gas and US gaming, have gathered momentum. Adds that recovery is ‘less evident’ in casinos and gaming resorts in the Asia-Pacific region.
First half trading was in line with board expectations. Expects operating profit of £400,000 which would represent a swing from a loss of £800,000 a year prior if achieved. Anticipates revenue of £23.0 million, up from £22.0 million a year prior, largely as a result of revenue growth in the company's core Systems division.
Chief Executive Paul Webb says: ‘A strong team performance has meant we have been able to deliver our goals for this period despite increasing challenges in the supply chain and with markets still subdued.’
Synectics will release its interim results on July 12.
Current stock price: 105.00 pence
12-month change: down 21%
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