{"id":95904,"title":"Synectics PLC (AIM:SNX) AGM Statement","publisher":"Share Talk","author":"sharetalk","published":"2022-04-20T06:47:54+00:00","modified":"2022-04-20T06:47:54+00:00","canonical_url":"https://www.share-talk.com/synectics-plc-aimsnx-agm-statement/","markdown_url":"https://www.share-talk.com/synectics-plc-aimsnx-agm-statement.md","json_url":"https://www.share-talk.com/synectics-plc-aimsnx-agm-statement.json","category":"Technology","categories":["Technology","Technology, Media & Telecoms"],"tags":["ENERGY","gaming","gas","global","Grid","markets","National","oil","public","Security","SNX","space","Surveillance","Synectics","systems","transport","urban"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/11/Stencil-Google-Chrome-2023-04-19-at-2.47.43-PM.jpeg?fit=1231%2C615&quality=89&ssl=1","format":"news","language":"en-GB","content":"At its Annual General Meeting (“AGM”) which is being held later this morning, David Coghlan, the Chairman of Synectics plc (AIM: SNX), a leader in the design, integration and support of advanced security and surveillance systems, will make the following statement:\n\n“Synectics’ trading in the first quarter of the new financial year was in line with the Board’s expectations.\n\nThe Systems division has begun the financial year slightly ahead of the Board’s expectations, mainly as a result of an improved contribution from public space and infrastructure security systems in the UK, including the National Grid contract which was announced recently, and also encouraging progress in global Oil & Gas markets.\n\nWhile the Security division has had a slower start to the financial year, with several projects experiencing client-driven delays, these are expected to be recovered later this financial year.\n\nThe Company’s consolidated order book as at 31 March 2022 was approximately £29.0 million (30 November 2021: £28.4 million) and the Group’s balance sheet remains strong with net cash of approximately £3.9 million at 31 March 2022 (30 November 2021: £4.6 million).\n\nActivity in Synectics’ main regional markets has continued the pattern shown in the second half of the last financial year with continued modest recovery in the UK and Europe, the pipeline of expected orders in North America progressing steadily, and Asian markets remaining subdued, but with some evidence that these look likely to turn by early next year.\n\nThese trends underpin the Board’s continued expectations for a solid improvement in trading results across this year, particularly in the second half.”\n\nA further update on current trading and prospects will be given in June 2022 following the end of the Company’s first half year.\n\nFor further information, please contact:\n\n**Synectics plc**\n\nTel: +44 (0) 114 280 2828\n\nDavid Coghlan, Chairman\n\nPaul Webb, Chief Executive\n\nDavid Bedford, Finance Director\n\nemail:[info@synecticsplc.com](mailto:info@synecticsplc.com)\n\n[www.synecticsplc.com](http://www.synecticsplc.com)\n\n**About Synectics plc**\n\nSynectics (AIM: SNX) is a leader in the design, integration and support of advanced security and surveillance systems that enable clients around the world to protect their people, communities, and assets.\n\nFounded over 30 years ago, Synectics has deep industry experience across gaming, energy, urban transport, public space and critical infrastructure projects. The Group’s expert engineering teams work in partnership with customers to create integrated product and technology solutions, proven in the most complex and demanding operating environments.\n\nFind out more at [www.synecticsplc.com](http://www.synecticsplc.com)"}