REG - SRT Marine Systems - Half Year Trading Update

SRT Marine SystemsAnnouncement

03/10/2022 07:01

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RNS Number : 4240B  SRT Marine Systems PLC  03 October 2022

SRT MARINE SYSTEMS PLC

(AIM: SRT)

("SRT" or the "Company")

 

Half Year Trading Update

 

 

SRT, the global provider of maritime surveillance, monitoring and management
systems, is pleased to provide an initial trading update for the six months
trading period ended 30(th) September 2022, prior to the issue of full interim
results on Monday 14(th) November 2022.

 

During the first half revenues were £18.8m - a 300% increase on the same
period last year (H1 2021/22: £4.7m), generating an expected profit before
tax to be not less than £1.5m. Despite continuing production constraints, our
transceivers business revenue grew by approximately 20% to £5.2m (H1 2021/22:
£4.2m). Our systems business delivered multiple operational and several
revenue milestones, and thus generated approximately £13.6m (H1 2021/22:
£0.5m) of revenue.

 

Simon Tucker, CEO of SRT said: "These results validate our earlier statements
that both our business divisions have recovered and are now performing well,
driven by a combination of good quality SRT products and fundamental long term
market demand drivers. We look forward to the second half and providing
further market updates with our continued progress."

 

ENDS

 

 Contacts:
 SRT Marine Systems plc                                        www.srt-marine.com (http://www.srt-marine.com)

                                                               + 44 (0) 1761 409500

 Simon Tucker (CEO)                                            simon.tucker@s (mailto:simon.tucker@srt-marine.com) rt-marine.com
                                                               (mailto:simon.tucker@srt-marine.com)
 Louise Coates (Marketing Manager)                             louise.coates@s (mailto:louise.coates@srt-marine.com) rt-marine.com
                                                               (mailto:louise.coates@srt-marine.com)

 finnCap Ltd
 Jonny Franklin-Adams / Edward Whiley (Corporate Finance)      +44 (0) 20 7220 0500
 Tim Redfern / Charlotte Sutcliffe (ECM)

About SRT Marine Systems plc:

SRT Marine Systems PLC is a global company which develops and provides
integrated maritime surveillance, monitoring, management and safety systems
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,
fisheries management, illegal fishing detection, environment monitoring and
general navigation safety.

 

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

 

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