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Surveillance technology and networked security systems company Synectics (SNX) has updated including anticipated underlying profit before tax for its year ending 30th November 2018 is “broadly in line with market expectations” and that “the board is increasingly confident of solid progress in the group's results in the coming year”…
Having been over 600p in 2013, shares in Synectics (SNX) were heading towards 100p towards the end of 2014 following a “Trading Update and Board Changes” announcement, which included from Chairman David Coghlan; “In the board's view, and I'm sure that of other shareholders, a third profits warning in a year for Synectics is unacceptable, even after five years of solid profits growth. Some of the factors behind this poor performance have been outside the company's control, but others were not. Action is being taken to ensure future profitability is not dependent on the timing of revenue recovery in certain sectors”. Such action looks to have been taken, but the share price has only recovered to a current 220p offer – and this looks a recovery story with more to go…
Synectics is a stock which is new to me, something which is quite an achievement given how much scrutiny the small caps space gets here in terms of technical trading opportunities on a daily basis.
Shares in surveillance technology company Synectics plc (SNX) currently trade more than 30% lower, at 220p, on the back of an announcement that it “expects to incur an underlying loss for the full financial year” as “underlying profit for the second half of the financial year ending 30 November 2014 will be significantly below market expectations of £5 million, though still positive”. Is the severity of the downward share price lurch justified?
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