Synectics profit falls 20% amid order delays

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Surveillance technology company Synectics posted a 20% fall in first-half profit after order deferrals hurt sales.

Pre-tax profit for the six months through May fell to £1.2m, down from £1.5m on-year.

Revenue fell 3.2% to £33.6m.

Synetics declared an interim dividend of 1.3p per share, up from 1.2p on-year.

The company had warned in April that order deferrals and customer-led delays would lead to its annual performance being substantially weighted to the second half.

'This apparent uncertainty among Synectics' private and particularly public sector customers in the UK continued in the remainder of the first half, though the impact was partly offset by positive developments elsewhere,' chairman David Coghlan said.

Chief executive Paul Webb said the company's full-year results were expected to be in line with market expectations.

At 8:35am: (LON:SNX) Synectics Plc share price was +5p at 185p