Boosted by international success and investment in innovation, Synectics, a part of Quadnetics Group plc, has announced a 22 percent increase in revenue for the year ended 30 November 2011, compared with the previous 12 month period.
The security solutions specialist recorded revenue of ￡37.6 million, a major factor in the impressive revenue growth of 13 percent announced by Quadnetics – helpin...
Boosted by international success and investment in innovation, Synectics, a part of Quadnetics Group plc, has announced a 22 percent increase in revenue for the year ended 30 November 2011, compared with the previous 12 month period.
The security solutions specialist recorded revenue of ￡37.6 million, a major factor in the impressive revenue growth of 13 percent announced by Quadnetics – helping the Group achieve overall sales of ￡69.1 million in 2011.
Nigel Poultney, Finance Director of Quadnetics Group plc, commented: “Quadnetics achieved solid growth in 2011 and has continued to build on that success, supported significantly by Synectics' improved performance.
“All Synectics businesses achieved strong growth against a tough economic backdrop, with Synectics Network Systems and Synectics Industrial Systems demonstrating particularly impressive growth rates of 28 percent and 26 percent respectively.”
Investment of ￡1.8 million in research and development, via its dedicated Technology Centre, has seen Synectics expand its suite of software-based intellectual property – enabling growth in key markets and success with major international contracts.
Cate Brisbane, Quadnetics Group Marketing Manager, said: “Synectics has traditionally performed well internationally but a focused approach to developing surveillance systems that meet specific sector needs has really strengthened this position. Major contract wins within the US gaming industry and for world leading oil and gas projects in Australasia and the Middle East, played a key role in Synectics achieving such significant growth.”