This is why profit declined at Sheffield surveillance firm Synectics

The Sheffield-based business saw pre-tax profit drop from £2.1m to £1.6m for the year ended November 30, 2019. While revenue declined from £71.2m to £68.5m.

Paul Webb, chief executive of Synectics, said: “Our investments continue to deliver good progress in our international systems business.

“However, difficult market conditions for our UK integration business meant that results overall were in line with revised market expectations following the Company’s trading update on 30 October 2019.”

The firm, which provides security and surveillance systems, said primary factors were a continued contraction in the UK passenger bus market and a “frustrating” slowdown in contract awards in the UK security integration sector.