UK's SRT Marine Systems hits over 6-mth low after HY loss warning

SRT Marine Systems

06/10/2023 08:52

** Shares of SRT Marine Systems Plc  SORA.L  fall as much as
12.5% to 38.50p, their lowest since March 23
    ** Co, which provides maritime surveillance, monitoring and
management systems, sees loss before tax of 4.5 mln pounds ($5.5
mln) for H1 ended Sept. 30 vs profit of 2.1 mln pounds reported
year ago
    ** Co says FY revenue will be heavily second-half weighted
due to scheduled delivery of several substantial revenue
milestones in H2
    ** Currently stock down 9%, pushing YTD losses to more than
13%


($1 = 0.8204 pounds)

 (Reporting by Aby Jose Koilparambil in Bengaluru)
 ((abyjose.koilparambil@thomsonreuters.com))