Surveillance group keeps a close eye on profit growth

Security and surveillance group Synectics has kept a close watch on maintaining its performance after an exceptionally strong 2016.

The Warwickshire-based company has more than achieved that, with underlying profits up 10% in the year to November although revenues – which last year passed £70m – were “broadly flat”.

Synectics designs and manages advanced surveillance technology, with the casino and gaming market in Asia among its key sectors.

A strong performance in this higher-margin area offset weaker performance in the lower-margin UK on-vehicle market, the company told investors.

Synectics’ performance in thits 2017 financial year was “better than anticipated”, as increasing inroads were made with major casino customers in the US.

Deliveries of surveillance systems to the UK bus market were solid in the first half, but declined in the latter part of the year on the back of a 14% decline in UK new bus registrations in the third calendar quarter.

Elsewhere, the oil and gas sector remained subdued and market conditions in the Group’s other sectors remain positive.

Synectics will report its financial figures in February.