Quadnetics lifted by combat camera

The group, which has its Synectics security technology business in Sheffield, yesterday revealed that it achieved pre-tax profits of £1.7m, in the half year to May 31, an increase on the £1.3m achieved in the same period in 2010.

Revenue was £34m, compared with £32.9m the year before.

John Shepherd, the company’s chief executive, said: “It is pleasing that our results are ahead of the board’s expectations, which puts us in a good position to meet our targets for the full year.”

He highlighted the strong performance of a number of products, including the VeeCam, an “ultra-rugged” personal digital video recorder for the police and armed forces.

Mr Shepherd added: “In line with our stated strategy of expanding our geographical reach in our chosen market niches, we have successfully concluded a deal to acquire a leading German competitor in the integrated transport and surveillance market, which will also give us the platform to expand our entire system solution portfolio into the European market.”

A Quadnetics spokesman said it was a “good result” built on increased profitability from both the Sheffield-based Synectics Network Systems and the Synectics Industrial Systems business, which is based in Brigg, Lincolnshire.

The spokesman added: “At our Sheffield Synectics Technology Centre, we have increased the pace of innovation and launched three new products which have already won significant orders.”