RNS3 Oct 2014 08:05
SRT, the AIM-quoted provider of maritime domain awareness technologies, products and solutions, is pleased to provide an update in respect of the unaudited expected results for the six months ended 30 September 2014 (the "Period').
Summary
· Revenue of £5.4 million, a 70% increase over H1 in 2013/14
· Profit before tax of £0.5 million (H1 2013/14: loss of £434,000)
· £2.6 million cash balance at the Period end
During the Period, the Company saw significant revenue from project based business with core non-mandated and AtoN business sectors also contributing. Core technology and product development continued as planned, coupled with increased investment in sales and marketing.
Simon Tucker, SRT CEO said: "I am delighted to be reporting a comparable period revenue increase of 70% and a return to profit. With many more projects in progress, coupled with the existing mandates and the pending US mandate in particular, we are excited about the future and look forward to providing shareholders with further updates in due course."