Synectics PLC Contract Wins with Long Term Customers (6716N)
22 Maggio 2020 - 8:00AM
UK Regulatory
TIDMSNX
RNS Number : 6716N
Synectics PLC
22 May 2020
22 May 2020
Synectics plc
("Synectics", the "Company" or the "Group")
Contract Wins with Long Term Customers
Synectics plc (AIM: SNX), a leader in the design, integration
and support of advanced security and surveillance systems,
announces the award of two new multi-year contracts with existing
long-term customers.
Synectics' Systems division has been awarded a new five-year
multi-million dollar support contract by a major casino operator
for its flagship resort in Asia, further extending an existing
long-term relationship.
Under the contract Synectics will continue to provide support
and development of its market-leading Synergy 3 software platform,
which plays an integral role in ensuring operational integrity,
security and regulatory compliance at the resort. Essential
elements underpinning this award were: the scalability and
flexibility of the Synergy platform to develop as the resort does;
Synectics' proven ability to develop functionality as new
requirements emerge; and the quality of on-site support
provided.
Secondly, Synectics' IMS division has been awarded a new
three-year framework agreement by Stagecoach, the UK's largest bus
and coach operator. The contract is an extension of Synectics'
18-year relationship with Stagecoach and covers the delivery of
safety critical on-vehicle surveillance systems and maintenance
support for their fleet of over 8,000 vehicles.
Paul Webb, Chief Executive of Synectics, commented: "Many of our
customers view us as their preferred long-term partner, which
carries with it a responsibility to repay the trust they place in
us.
"During this difficult period, the expertise and dedication of
our teams are invaluable - as they continuously strive to provide
the services and support required by all of our customers, whilst
ensuring that everyone remains safe.
"These new contracts reflect our teams' exceptional commitment
and underline our on-going strategy to build long-term partnerships
with our customers."
COVID-19 Update
Since the Company's last update on 23 April 2020, the Board has
continued to monitor the impact of Coronavirus (COVID-19) on
Synectics' customers, business and employees. Management reviews
its plan daily, following all relevant national government
regulations and guidance.
Despite inevitable delays to many projects, the Group continues
to deliver services and support to its customers, utilising a
growing range of remote capabilities. These capabilities are also
enabling the Group to work creatively with customers on new ways of
delivering projects within our mutual Coronavirus safety
constraints.
The Group continues to maintain a solid net cash position and is
proceeding as normal with its planned investment in the development
of upcoming software capabilities.
Synectics' priorities continue to be: to protect the health and
well-being of its employees and customers; to provide ongoing
support to its customers, especially where we are providing
essential security and safety; and to manage the business for the
long term by prudent actions to preserve cash and maintain
capability.
For further information, please contact:
Synectics plc Tel: +44 (0) 114 280 2828
Paul Webb, Chief Executive
David Coghlan, Chairman
email: info@synecticsplc.com www.synecticsplc.com
Shore Capital Tel: +44 (0) 20 7408 4050
Tom Griffiths / Henry Willcocks
Media enquiries:
Intelligent Conversation Tel: +44 (0) 161 694 3979
Claire Evans
Email: claire@weareic.com
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END
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