SYNECTICS | Year End Trading Update | RNS
20 December 2012
("the Company" or "the Group")
Year End Trading Update
Synectics plc (AIM: SNX), a leader in the design, integration and control of advanced surveillance technology and networked security systems,provides the following update on trading for the year ended 30 November 2012.
On 24 October 2012, the Company released a trading update stating that results for the year to 30 November 2012 were likely to be ahead of market expectations. Since that time trading has further strengthened and operating margins in a number of business areas have improved from previous forecasts.
Consolidated revenues for the year to 30 November 2012 were approximately 10% above those of the prior year. Growth was particularly strong in the Group's Industrial Systems division, providing extreme environment surveillance systems primarily for the global oil and gas industry, which achieved a doubling of revenues in the year.
As a consequence of the strengthening of both revenue growth and operating margins in the final months of the year, the Board now believes that Synectics' results for the year to 30 November 2012 will be materially ahead of market expectations as set following the Company's trading update in October.
Preliminary results for the year to 30 November 2012 are expected to be released on or around 27 February 2013.
For further information, please contact:
Tel: +44 (0) 1527 850080
John Shepherd, Chief Executive
Westhouse Securities Limited
Tel: +44 (0) 207 601 6100
Tel: +44 (0) 207 466 5000
Tim Anderson / Mark Court / Fiona Henson / Sophie Cowles
This information is provided by RNS