Better than anticipated figures for security and surveillance tech company

Security and surveillance technology business, Synectics, expects its profit before tax and revenues for FY 2024 to be materially ahead of market expectations of £3.9m £55.4m respectively.

In an update on trading for the year ended 30 November 2024, the Sheffield-headquartered company says its upbeat forecast reflects continued momentum in the second half of the year across all of its market verticals.

The firm adds that it ended FY 2024 with a strong order book, totalling approximately £37.8m (31 May 2024: £30.2m; 30 November 2023: £29.2m), underpinning the Board’s confidence for the year ending 30 November 2025.

Cash at 30 November 2024 was £9.6m (31 May 2024: £6.4m; 30 November 2023: £4.6m), with undrawn bank facilities of £3m.

Synectics says it expects to release its audited results for FY 2024 in early March 2025.