LONDON (Alliance News) - Software Radio Technology PLC Tuesday that it expects to beat market expectations for its recently ended year, with revenue up 24% compared to the previous year.
The company, which provides maritime tracking technologies and products, expects to report a pretax profit of GBP200,000 for the year to end-March, compared to break even the previous year, on revenue of GBP10.6 million, up 24% from the GBP8.5 million it reported the year before. It noted that these expectations were "subject to audit."
Software Radio Technology will report its full year results June 6.
"With a 24% increase in revenue these are another solid set of figures. However, the most significant progress has been made in market development and sales opportunity conversion. As a result, we enter the new financial year with a GBP70 million forward contract order book, and a validated sales pipeline worth over GBP200 million, both of which are growing. We therefore expect an exciting year ahead," said Chief Executive Officer Simon Tucker in a statement.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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Srt Marine Sys. (SRT)