Synectics: FY 2024 profit boosts growth confidence for FY 2025

Synectics has provided an update on it’s trading for the year which ended on 30 November 2024 (“FY 2024”).

The Company expects profit before tax for FY 2024 to be materially ahead of market expectations, reflecting continued growth in the second half of the year across all of its market verticals.

Reflections

Synectics ended FY 2024 with a strong order book, totalling approximately £37.8 million, underpinning the Board’s confidence for the year ending 30 November 2025:

• 31 May 2024: £30.2 million
• 30 November 2023: £29.2 million

Cash at 30 November 2024 was £9.6 million with undrawn bank facilities of £3.0 million:

• 31 May 2024: £6.4 million
• 30 November 2023: £4.6 million

Prior to this announcement, FY 2024 market expectations were revenue of £55.4m and adjusted PBT of £3.9m.

Synectics expects to announce its audited results for FY 2024 in early March 2025.