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Synectics posts top results in pearl anniversary year
Surveillance technology design, integration, control and management company Synectics reported its audited final results for the year ended 30 November on Tuesday, with revenue ahead slightly at £70.1million, compared to £70.9m in 2016.
The AIM-traded firm said its underlying profit was up 15% at £3m, while its profit before tax surged 50%, also to £3m.
Underlying diluted earnings per share improved to 15.2p from 12.4p in the prior year, with diluted earnings per share well ahead at 15.1p, compared to 8.8p.
Synectics reported a return on capital employed of 8.5%, up from 7.6%, with net cash standing at £3.8m on 30 November, rising from £2.2m at the start of the year.
The company's year-end order book was down slightly on the prior year at £24.4m, compared to £26.2m, while the board recommended that the final dividend be increased to 3p per share from 2p.
"These results are pleasing in their own right, and especially satisfying in our 30th anniversary year as they reflect the dedication of our people to meet new challenges while remaining true to the values which inspired our company's creation," said chief executive Paul Webb in a short comment on the results.