Synectics has had a strong start to the year in terms of major orders won and the group’s total order book has increased by over 28% to £34.2m at end March 2016 compared to the £26.6m at end November 2015. As a consequence, the board’s expectations are that “results for the full year remain in line with market forecasts” although there will be a greater secondhalf weighting than usual. We maintain Our DCF derived 315p target price and our Buy rating.
