10th Dec 2015 08:21
LONDON (Alliance News) - Surveillance technology and security systems company Synectics PLC Thursday said it intends to recommend a modest resumed final dividend for its 2015 financial year, as a result of a return to profitability.
Synectics expects to report revenue of around GBP68 million for the year to end-November, up from GBP64.6 million a year before.
It had net cash of GBP300,000 at the year end, which it said was a "substantial improvement" from net debt of GBP6.1 million at the end of the previous year.
The company said that difficult market conditions in the oil and gas sector are continuing as expected, however, it saw revenue growth of more than 10% in that sector during the year. It still expects it to take "some time" before capital expenditure on major projects in the industry returns to more normal levels.
Synectics will announce its full year results on or around February 24.
Shares in Synectics were up 13% at 118.35 pence Thursday morning, one of the best performers in the AIM All-Share.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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