Synectics down on casino difficulties

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Synectics down on casino difficulties

The share price of AIM-listed security and surveillance firm Synectics (LON:SNX) dropped 8.92% to 118.40p (as of 15:35 BST) after the firm warned that a recovery in the digital gambling sector during the second half was now unlikely. As a result, revenues and results for the six months will be below the prior period despite trading in other segments being in line with expectations.

CEO Paul Webb commented: “With our ongoing investment in advanced product development and deep customer relationships, Synectics is well positioned across our global markets for long-term success. Given the impact of Covid-19 across many of the sectors we work in, our focus has been to support our customers and people, while acknowledging the inevitable impact this has had on our short-term trading and financial performance.

“We remain confident in our long-term growth prospects as our software and technology capabilities continue to open up new opportunities in evolving markets for our security and surveillance technology“.

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