StockMarketWire.com - Security systems group Synectics said it swung to a first-half loss after the Covid-19 hurt clients, particularly in the gambling sector.

Pre-tax losses for the six months through March amounted to £2.3m, compared to a profit of £1.2m on-year.

Revenue slipped to £23.0m, down from £33.6m.

Synetics said it expected a 'noticeably improved' underlying trading result in the second half.

'Whilst results this year will be significantly affected by the impact of Covid-19, our relatively strong financial position has allowed us to re-structure our Integration businesses and to continue our investment in technology development,' chief executive Paul Webb said.

'This investment is opening a range of future opportunities for Synectics in software applications for enterprise-level operational security management systems.'

'Our approach puts us in position to take advantage of these opportunities as they arise, and to support our customers as they emerge from their individual pandemic scenarios.'


At 9:57am: [LON:SNX] Synectics Plc share price was -5p at 107.5p



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