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Synectics PLC on Monday said it expects full-year profit to be ‘materially ahead of expectations’ due to continued momentum in the second half. The Sheffield, England-based provider of advanced security and surveillance systems solutions said it expects adjusted pretax profit for the financial year ended November 30 to materially beat expectations, which it believes is £3.9 million. In financial 2023, it reported pretax profit of £2.7 million and underlying pretax profit of £3.0 million. Shares in Synectics were up 13% to 349.10 pence each in London on Monday afternoon. The company said the expected strong performance is due to continued momentum in the second half across all of its market verticals. Synectics said its order book at the end of November was up 29% to £37.8 million from £29.2 million year-on-year. The company said its cash balance had also grown 52% to £9.6 million from £4.6 million in the same period. Its audited results for the full year will be released in early March 2025. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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