Quadnetics FY profits to be at top of expectations

Shares in surveillance and security technology provider Quadnetics rose after it said that full year figures would be at the higher end of the board's expectations.

The firm said it had enjoyed strong trading in the final months of its financial year, pushing shares up by almost 4%.

Sales growth had been strongest in the Synectics Network Systems and Synectics Industrial Systems divisions, which provide specialist surveillance systems worldwide to the critical security and oil & gas markets.

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The numbers were helped by the firm's acquisition of Indanet AG, a supplier of high-end surveillance systems for integrated transport hubs, in July 2011.

"Since acquisition Indanet has performed somewhat ahead of the board's expectations," Quadnetics said.

These results offset lacklustre defence sales, which the company put down to limited UK defence orders and disruption to expected contracts in the Middle East from local political unrest.