Synectics set to beat profit expectations for 2024 financial year.
Advanced security and surveillance specialist Synectics announced on Monday that profit before tax for the financial year ended 30 November was expected to be materially ahead of market expectations.
Synectics
09 December 2024 09:58:13
Source: Sharecast
The AIM-traded firm said the performance reflected strong momentum across all its market verticals during the second half.
It said it saw a significant increase in its order book, which reached around £37.8m as of the end of November, compared to £30.2m at the end of May and £29.2m at the close of November 2023.
Synectics also strengthened its financial position, with cash holdings rising to £9.6m as of 30 November, up from £6.4m in May and £4.6m a year earlier.
The company added that it retained additional liquidity through £3m in undrawn bank facilities.
The company said it would release its audited results for the 2024 financial year in early March.
At 0939 GMT, shares in Synectics were up 7.9% at 333.42p.
Reporting by Josh White for Sharecast.com.
N/A
ISIN:
N/A
Exchange: N/A
Sell:
N/A
Buy:
N/A
Change:
Date:
Prices delayed by at least 15 minutes
Compare our accounts
If you're looking to grow your money over the longer term (5+ years), we have a range of investment choices to help.
Halifax is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.
