Surveillance firm Synectics narrows its projected losses by more than £1m

Surveillance firm Synectics, which provides security for casinos, high security prisons and transport operators, said it expects to report a much reduced half year operating loss.
By Mark Casci
Published 14th Jun 2021, 09:20 BST
Synectics handle security for casinosSynectics handle security for casinos
Synectics handle security for casinos

The Sheffield-based firm said it now expects losses of around £800,000, down from a loss of £2m, following action last year to reduce the group’s operating cost base.

Synetics has been hit by global travel restrictions on casinos and gaming resorts.

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A spokesperson said: "Activity in public infrastructure and transportation in the UK and Europe held up relatively well, but the continued impact of global travel restrictions on casinos and gaming resorts in Asia-Pacific and the United States meant that revenues remained subdued in what was, pre-pandemic, Synectics' largest market sector.

"There are some early signs of increased customer activity in the gaming sector in both Asia and the United States, from which the Board expects to see some recovery in orders received by the company in the second half of this financial year."

Related topics:SheffieldEurope