Shares of Synectics plc (SNX.L) were gaining more than 12 percent on the London Stock Exchange after the advanced security and surveillance systems provider announced Monday that its third-quarter trading was positive, and that it now expects fiscal 2024 to be materially ahead of market expectations.
In its update on trading for the year, following the conclusion of its third quarter on August 31, the company noted that there was continued momentum across its key markets.
Order intake remains strong and recent contract wins have included a $1.2 million contract for the installation of a new security and surveillance system at a casino resort in the Philippines.
Synectics also recorded further contract wins with Saudi Aramco, and a strategically important order for the Company's first installation, of a new security and surveillance system for a casino resort, in Cambodia.
Prior to this announcement, fiscal 2024 market expectations were revenue of 52.9 million pounds and adjusted profit before tax of 3.5 million pounds. In addition, the company continues to focus on further strengthening its already healthy fiscal 2025 order book.
In London, Synectics shares were trading at 229.00 pence, up 12.81 percent.
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