Quadnetics planning name change
STUDLEY-based security and surveillance group Quadnetics has recorded an increase in both revenue and profits and is planning to change its name.
The firm, a leader in the design, integration and control of advanced surveillance technology, networked security systems and strategic security solutions, reported an impressive set of preliminary results for the year ended 30 November 2011.
Revenue was up 13% to £69.1m (2010: £61.3m) and profit before tax was £2.5m (2010: £1.4m)
Chief executive John Shepherd said: “We continue to make good progress against our stated targets of growing revenues, operating profit and return on sales. I am pleased to report that this significant improvement in performance has been achieved whilst still being able to increase R&D investment in new systems and products as well as completing the acquisition of Indanet in the period.
“We start 2012 with increased technical capability, geographical and market reach and most importantly a larger order book – all factors which give us confidence that further good progress will be achieved in 2012.”
The group is planning to change its name to Synetics, the brand it has
been developing in electronic surveillance markets around the world for a number of years. It will put the idea to shareholders at its forthcoming AGM.
