Synectics reports in-line trade, Chair Bob Holt plans to step down

Mon, 18th May 2026 12:16

(Alliance News) - Synectics PLC on Monday said trading has met expectations in the first five months of financial 2026, highlighting "important customer wins" and "encouraging" momentum.

The Sheffield, England-based provider of advanced security and surveillance systems also announced that Non-Executive Chair Bob Holt intends to step down.

Holt is also chair at Earnz PLC, and Synectics said his departure reflects "his increasing commitments" to the Cheltenham, England-based energy services company, of which he is a "significant shareholder".

Synectics said Holt has a six-month notice period, and he "will remain in the role in the interim to ensure an orderly transition" while it searches for a successor.

Also, ahead of its annual general meeting on Monday, Synectics said that trading has been broadly in line with its expectations for the first five months of the year ending November 30.

It expects trading for the full year to be in line with market expectations, which it cited as £62.0 million in revenue and £4.1 million in adjusted earnings before interest, tax, depreciation and amortisation. However, it said this is subject to energy sector activity normalising through the second half.

"Positive activity has continued across a number of the group's core markets," Synectics said, noting "strong order intake in the North American gaming market".

The company has "secured contracts with several new customers," including its "largest contract win to date" for its surveillance solution in Ontario, Canada. It also noted that it has won further contracts with new and existing clients across the critical infrastructure, public space and transport sectors.

However, Synectics said some energy sector customers have delayed project and infrastructure investment decisions, leaving some timings "unclear", due to the "backdrop of ongoing geopolitical uncertainty".

"Synectics has secured important customer wins...and it is particularly encouraging to see this momentum that we're building with new and existing customers," commented Chief Executive Officer Amanda Larnder, adding: "Whilst the timing of some customer investment decisions and contract awards is currently uncertain, our underlying new business pipeline remains encouraging.

"We have made clear progress in reshaping the business, with early signs that these initiatives are already supporting improved commercial execution...We are focused on delivering a more scalable, repeatable model that can support stronger and more consistent growth over time."

Synectics shares fell 17% to 170.30 pence on Monday in London.

By Emma Curzon, Alliance News reporter

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