Synectics PLC on Monday said it expects full-year results to be materially ahead of market expectations, reflecting strong trading in the second half.

Shares in Synectics were up 30% to 136.00 pence each in London on Monday morning.

The Sheffield, England-based security and surveillance systems firm said this was particularly in the oil and gas market.

Synectics finished the financial year that ended November 30 with a ‘strong’ order book, totalling £28.6 million, up 17% from £24.4 million a year earlier, which it said gave the board continued confidence for financial 2024.

Net cash at November 30 rose 7.0% to £4.6 million from £4.3 million a year earlier, with undrawn bank facilities of £3.0 million.

Synectics said it remains focused on the delivery of specialist surveillance systems.

This includes a ‘flexible, open-architecture software platform and specialist hardware to meet exacting requirements in challenging environments - to targeted specialist markets, including gaming, oil and gas, and public space,’ Synectics said.

It expects to announce its audited financial 2023 results in late February.

Copyright 2023 Alliance News Ltd. All Rights Reserved.