27th Apr 2016 08:46
LONDON (Alliance News) - Surveillance technology and networked security systems provider Synectics PLC on Wednesday said it won a series of contracts in the first months of 2016 to leave it confident on the full year, albeit with a greater bias to the second half.
Since the start of 2016, Synectics has won surveillance contracts in the Philippines, Macau, Algeria and Germany, along with a security system deal in Asia and a "threat management solution" for a UK financial institution.
As a result of the wins, Synectics Chairman David Coghlan, in a statement to be given at the company's annual general meeting, said the group's total order book increased 28% in the first quarter.
Despite this, the timing of the revenue on some of the contracts will mean results for Synectics are second-half weighted than in the past, in part due to customer construction delays.
"Based on the group's healthy order book and current pipeline of anticipated new business, the board's expectations for results for the full year remain in line with market forecasts," Coghlan said.
Synectics shares were down 7.0% to 158.57 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Synectics