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Synectics swings to loss as pandemic hits gambling sector

By BFN News | 09:33 AM | Tuesday 02 March, 2021

Surveillance system group Synectics swung to a full-year loss after the pandemic hit demand from the gambling sector. Pre-tax losses for the year through December amounted to £6.3 million, compared to a year-on-year profit of £1.6 million, as revenue dropped 35% to £44.6 million. Synetics did not declare a dividend, but said a recommencement of payouts would be reviewed during the current financial year once the timing of a recovery was clearer. 'Results have clearly been significantly affected by the pandemic, particularly in our global gaming markets,' chief executive Paul Webb said. 'However, the business is well placed to capitalise on recent landmark project wins, which utilise its latest technology developments.' At 9:33am: (LON:SNX) Synectics Plc share price was 0p at 90p Story provided by

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