Contract wins providing strong momentum for security group

Warwickshire-based security and surveillance group, Synectics, has said a clutch of new contract wins will prove a solid base for full year momentum.

This month alone, the Studley group has announced three major contract wins:

·    A multi-million dollar contract for an integrated 5,000-camera surveillance system, based on Synectics’ Synergy 3 command and control software, for five properties in a gaming mega-resort in the Philippines;

·    A large and strategically important extension of our Synergy 3 surveillance system at Jakarta Airport to the newly-built Airport Operational Command Centre, which will be the operational heart of the busiest airport in the southern hemisphere; and

·    A three-year, multi-million pound extension to Synectics’ long-term contract with the UK’s largest bus operator, Stagecoach, to supply and support CCTV systems for their entire bus fleet.

Ahead of the group’s AGM, chairman David Coghlan said: “Synectics’ results for the first four months of the current financial year have been in line with the board’s expectations.  Particularly pleasing have been the number and scope of important new orders recently won across different sectors.”

He said that since the first three deals, Synectics had been awarded a further contract worth around US$1m to extend an existing Synergy 3 system for a gaming customer.

“These contracts taken together underline the continued momentum Synectics is achieving in its strategy of providing differentiated, sector-specific, high-end surveillance solutions built around our core command and control software,” added Mr Coghlan.

“Based on the group’s current healthy order book and pipeline of anticipated new business, the board’s expectations for results for the full year remain in line with market forecasts.”