StockMarketWire.com - Surveillance technology company Synectics posted a 20% fall in first-half profit after order deferrals hurt sales.

The company also announced that it had won a 'a multi-million euro' contract with S-Bahn Berlin, which was responsible for moderising Berlin's rail system.

Pre-tax profit for the six months through May fell to £1.2m, down from £1.5m on-year.

Revenue fell 3.2% to £33.6m.

Synetics declared an interim dividend of 1.3p per share, up from 1.2p on-year.

The company had warned in April that order deferrals and customer-led delays would lead to its annual performance being substantially weighted to the second half.

'This apparent uncertainty among Synectics' private and particularly public sector customers in the UK continued in the remainder of the first half, though the impact was partly offset by positive developments elsewhere,' chairman David Coghlan said.

Chief executive Paul Webb said the company's full-year results were expected to be in line with market expectations.

For the German rail contract, development and delivery of the solution would take place over the next two years. The contract also included an eight-year support agreement as part of a long-term partnership.

At 8:35am: [LON:SNX] Synectics Plc share price was +5p at 185p



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