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SRT Marine Systems (SRT)

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Wednesday 10 April, 2019

SRT Marine Systems

Trading Update and Notice of Results

RNS Number : 6692V
SRT Marine Systems PLC
10 April 2019
 

SRT MARINE SYSTEMS PLC

(AIM: SRT)

("SRT" or the "Company")

 

Trading update and Notice of Results

 

SRT Marine Systems PLC (SRT), a global provider of maritime surveillance, monitoring and management systems, today announces a trading update for the year ended 31 March 2019.

The Company expects to report revenues of approximately £20.0 million and profit before tax of £3.0 million with gross cash as at 31 March 2019 of £3.9 million*.

The Company expects to publish its audited final results on Thursday 18th July 2019, and hold its AGM at its Midsomer Norton, Somerset offices on Wednesday 4th September 2019.

SRT CEO, Simon Tucker said:

"This excellent result is the product of many years investment which has seen SRT become an established player in the global maritime domain awareness market. Both our AIS transceiver and MDA systems businesses have experienced very good growth over the last year. Of particular note is our MDA systems business which currently has contracts worth approximately £35m in progress and a significant pipeline of sales opportunities of which six, with a value of approximately £212m, we hope to formally contract during the course of the next 12 months. Each of these six near term pipeline opportunities have an expected implementation period post contracts being signed of between 6 and 36 months and the opportunity for recurring satellite data revenues and further system contracts in the future."

*subject to audit including the adoption of IFRS15.

 

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

 

For further information, please contact:

 

SRT Marine Systems plc

www.srt-marine.com 

+ 44 (0) 1761 409500

Simon Tucker (CEO)

[email protected]

Louise Coates (Marketing Manager)

[email protected]

 

finnCap Ltd (NOMAD & Broker)

 

Marc Milmo / Anthony Adams (Corporate Finance)

+44 (0) 20 7220 0500

Tim Redfern / Richard Chambers (Corporate Broking)

 

 

 

 

       

About SRT Marine Systems plc:

SRT Marine Systems PLC is a global company which develops and provides advanced vessel tracking, monitoring, management and analytic systems which are used by coast guards, fishery authorities, infrastructure and vessel owners for the purposes of managing and controlling their maritime domain.  Applications include security, safety, search & rescue, law enforcement, illegal fishing detection and environment monitoring. 


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