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Synectics PLC - Sheffield, England-based advanced security and surveillance provider - Reports revenue of £39.1 million for the year ended on November 30, up 6.8% from £36.6 million the year before. Swings to a pretax profit of £361,000 from a loss of £558,000, on a gain of profit on sale of disconnected operations of £804,000. Underlying operating profit amounts to £1.2 million, compared to a loss of £500,000 the year before. Order book stands at £24.4 million as at November 30, up from £23.6 million on the same date a year earlier with a strong pipeline of expected orders.
Chief Executive Paul Webb says: ‘The company’s return to profitability and maintained strong cash position pay testimony to the underlying strength of the business and provide a robust platform for the future. With recovering markets, a sound order book and a strong pipeline of opportunities, the board is confident of further profitable growth this year.’
Recommends a final dividend of 2.0 pence per share, up 33% from 1.5p a year prior. Looking ahead, says the fundamentals of the business are healthy. It remains confident of further profitable growth.
Current stock price: 130.00 pence each, down 3.7% on Wednesday around midday in London
12-month change: up 16%
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