Synectics (AIM:SNX) shares strengthened in Monday’s early deals after reporting continued positive trading momentum in the third quarter.
The company, which specialises in advanced security and surveillance systems, told investors that full-year financial results for 2024 are expected to exceed previous market forecasts.
"The company is pleased to confirm that trading in the third quarter of the year was positive, with continued momentum across its key markets," said management.
Synectics (AIM:SNX) secured new contracts in the period, including a $1.2 million installation project for a casino resort in the Philippines and the company's first security system deployment in Cambodia.
It now expects underlying profit before tax (PBT) for FY 2024 to be "materially ahead of market expectations", with prior expectations set at £52.9 million in revenue and £3.5 million in adjusted PBT.
Synectics also highlighted its focus on further strengthening its FY 2025 order book, as it looks to maintain its positive momentum into the next financial year.
In London, the small-cap share was up 12.3% on Monday, changing hands at 228p each.