In this Research Note, we examine Synectics plc, the listed UK provider of large-scale electronic security systems for critical and regulated environments. This article is based on their 2022 Annual Results, Investor presentation, 2022 Annual Report and press releases throughout the year. Based in Sheffield, UK, the company’s expertise is in providing solutions for specific markets where security and surveillance are critical to operations. These include Gaming, Oil & Gas, Public Space, Transport, and Critical Infrastructure. During 2022, the company continued to progress the development of its fourth-generation Synergy platform and COEX camera station range. Total revenue for the year increased by 6.8% from £36.6 million to £39.1 million resulting in underlying operating profit of £1.2 million compared to a loss of £0.5 million in 2021. In November 2022, Synectics completed the sale of the non-core SSS business, which provides monitoring and managed services, principally to multi-site retailers in the UK. The disposal to Parfas […]