Middle East troubles hit Quadnetics
Political events in the Middle East have resulted in the cancellation or delay of several projects taken on by Warwickshire-based Quadnetics Group, the company's AGM will hear today. Chairman David Coghlan is set to inform the board of the security specialist's progress later.
Coghlan will tell the board of directors that "outside the UK, recent political events in the Middle East have resulted in the cancellation or delay of a number of projects across the region".
Despite this, Synectics Networks' operations in Dubai are still expected to move from start-up losses into profit in the six months to 31 May 2011.
Coghlan is expected to add that sales in of casino and gaming surveillance systems in North America, have been "especially strong", with some new customer and contract wins this financial year.
He will also report that progress in Synectics' oil and gas division has been equally strong,
Coghlan will tell the board that surveillance markets dependent on the UK public sector "continue to be patchy, with projects in both defence and local authority areas experiencing delays in contract awards".
