Last checked at 6 Oct 2016 07:00
SRT MARINE SYSTEMS PLC
("SRT" or the "Company")
Half Year Trading Update
SRT, the AIM quoted provider of maritime domain awareness technologies, products and solutions, is pleased to provide an update in respect of the expected results for the six months ended 30 September 2016.
Revenues for the first half were £2.7 million, resulting in a loss before tax of £1.2 million and a cash balance of £1.8 million as at 30 September 2016.
First half revenues were derived almost exclusively from the core business of individual vessel transceiver shipments. During the period there was material progress with several projects which will result in the completion of significant project deliverables in the second half. Upon completion the Company will make further announcements and provide market guidance accordingly.
The Company will publish its half year results at 7.00 a.m. on Tuesday 15 November 2016.
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About SRT Marine Systems plc
SRT develops, manufactures and supplies maritime tracking technology and turn-key system solutions to marine stakeholders across the globe. The Company's products and solutions are used by individual vessel owners, port authorities, maritime infrastructure owners, coast guards and national security agencies to enhance their maritime domain awareness. Applications include the tracking of commercial and leisure vessels; sustainable fishery; anti-collision; search and rescue; waterway management, port and coast security; pollution management; and environmental management.