Synectics expects 'modest' H2 profit

Security and surveillance systems firm Synectics said on Wednesday that trading has continued broadly in line with the expectations set out in its interim results back in July.

Synectics stated underlying results for the second half of the financial year were expected to show a "modest profit", resulting in full-year underlying losses being lower than that recorded in the first half.

The AIM-listed group highlighted that its net cash balance as of 30 November was £4.4m, up from £3.5m at the halfway point of the trading year but down from £6.9m at the same time a year earlier. Synectics added that it has no bank debt and undrawn bank facilities of £3.0m.

As of 1310 GMT, Synectics shares were down 4.52% at 105.50p.