Synectics: Sheffield-based security systems firm wins new contract for over £2m

A spokesperson for Synectics said: “The Customer has been using Synergy, the Company's proprietary software platform, since 2014 and the Contracts will expand and upgrade the Customer's existing system to the latest version of Synergy.”

The contract is expected to be delivered in the year ending 30 November 2025, and comes in addition to another $10m (£7.6m) contract announced by the firm in June of this year.

Amanda Larnder, interim chief executive officer and chief financial officer, said: "The award of these contracts is a testament to the expertise of the Synectics team and our industry-leading software.

“We have been working with this customer for many years and we are delighted that they have committed to this upgrade and expansion programme with us."

Synectics announced in July that it was set to pay out its first dividend in five years after the company saw an uplift in both revenue and profits for the first half of the financial year.

The firm saw revenues increase by 20 per cent to £26.3m for the six months ending May 31, a jump from £21.9m the year prior.

This resulted in what the firm described as a “significant uplift” in underlying operating profit to £2.2m, up from £0.8m in the first six months of 2023 and reflecting an increase of 183 per cent.