13th Jul 2021 14:52
Synectics PLC - Sheffield, England-based provider of security systems - Says reduced operating costs narrowed pretax loss to GBP810,000 for the six months to May 31, from GBP2.3 million the same period a year prior. Operating costs cut by 17% in recent first half to GBP8.6 million, from GBP10.5 million in first half of financial 2020.
Interim revenue is down 4.6% year-on-year to GBP22.0 million from GBP23.0 million. Says order book totalled GBP30.3 million on May 31, up 19% from GBP25.4 million on November 30, and up 17% from GBP26.1 million on May 31, 2020.
Decides against declaring dividend due to loss and market uncertainty. Dividend policy to be reviewed in final results, due November 30.
Expects revenue growth and modest profit in the second half of financial 2022, despite continued uncertainty.
Current stock price: 127.50 pence, down 0.8% on Tuesday
Year-to-date change: up 21%
By Scarlett Butler; [email protected]
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