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Synectics intends 'modest resumed' final divi

By BFN News | 07:39 AM | Thursday 10 December, 2015


Synectics said in recognition of its return to unaudited profitability, directors intend to recommend a modest resumed final dividend for the 2015 financial year. Consolidated revenues for just-ended year were estimated to have been about GBP68m, compared with GBP64.6m previously. Underlying results are expected to be in line with market expectations. Difficult market conditions in the oil and gas sector are, as expected, continuing but the Group achieved revenue growth of more than 10% in that sector during the year to 30 November 2015 compared with the prior year. The Board still anticipates that it will take some time before capital expenditure on major projects in the industry, which drives demand for Synectics' sophisticated surveillance systems, recovers to more normal levels. In the 2015 financial year, Synectics' revenues from the oil and gas sector represented just under 20% of total consolidated revenues. Market conditions in the other industry sectors served by the Group have generally continued on a stable to mildly positive trend. Story provided by StockMarketWire.com

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