RE: AGM28 Jan 2025 12:06
Good to meet several people who attended the AGM. It was a long trip for me travelling from the wilds of North Yorkshire, but well worth the time.
Interesting to read the AGM comments. I would expect that the presentation that Simon gave, will at some point be loaded to the website, however, for me the take outs are these.
NEXUS is ready and will start under our em-trak branding, product is ready physically, just the App related software to fine tune as TT pointed out below. Roll out will be through the 5,000 + strong dealer network with an undisclosed value of pre-orders. Potential Q2 2025 go date, so opportunity for a bump up in current yr end sales umbers for the Nav Systems element of total revenues.
DAS products, aside form being part of the Systems offering, has potential to deliver significant growth in its own right, the company is recruiting additional commercial resource to drive this.
On the systems front, roll out of current contract will likely be covered in this and the next 2 financial years. Looking at the £1.2bn (VSP) of potential future contracts, the split that was shown between near and far term, was interesting with potentially 1 to 2 of these near term contracts being awarded in 2025. The other interesting take out for the balance of the £1.2bn, was that approximately half of these are to organisations / countries that SRT has already traded with. People can read into that what they wish, but to me, where there is already a working relationship between the parties, the path to continued trading is a little easier.
The other point that was made was the commitment and effort all the SRT staff are putting in and the list of role their are currently recruiting for which is not in-significant (see the SRT website)
Finally congrats to the entire SRT team on developing the business to where it is right now. To me the future looks strong and I trust that SRT will continue to develop as an independent business in which we are all invested.
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