SRT Marine Systems PLC Trading Update and Notice of Results (6692V)
10 April 2019 - 4:00PM
UK Regulatory
TIDMSRT
RNS Number : 6692V
SRT Marine Systems PLC
10 April 2019
SRT MARINE SYSTEMS PLC
(AIM: SRT)
("SRT" or the "Company")
Trading update and Notice of Results
SRT Marine Systems PLC (SRT), a global provider of maritime
surveillance, monitoring and management systems, today announces a
trading update for the year ended 31 March 2019.
The Company expects to report revenues of approximately GBP20.0
million and profit before tax of GBP3.0 million with gross cash as
at 31 March 2019 of GBP3.9 million*.
The Company expects to publish its audited final results on
Thursday 18(th) July 2019, and hold its AGM at its Midsomer Norton,
Somerset offices on Wednesday 4(th) September 2019.
SRT CEO, Simon Tucker said:
"This excellent result is the product of many years investment
which has seen SRT become an established player in the global
maritime domain awareness market. Both our AIS transceiver and MDA
systems businesses have experienced very good growth over the last
year. Of particular note is our MDA systems business which
currently has contracts worth approximately GBP35m in progress and
a significant pipeline of sales opportunities of which six, with a
value of approximately GBP212m, we hope to formally contract during
the course of the next 12 months. Each of these six near term
pipeline opportunities have an expected implementation period post
contracts being signed of between 6 and 36 months and the
opportunity for recurring satellite data revenues and further
system contracts in the future."
*subject to audit including the adoption of IFRS15.
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014.
For further information, please contact:
SRT Marine Systems plc www.srt-marine.com
+ 44 (0) 1761 409500
Simon Tucker (CEO) simon.tucker@srt-marine.com
Louise Coates (Marketing Manager) louise.coates@srt-marine.com
finnCap Ltd (NOMAD & Broker)
Marc Milmo / Anthony Adams (Corporate
Finance) +44 (0) 20 7220 0500
Tim Redfern / Richard Chambers (Corporate
Broking)
About SRT Marine Systems plc:
SRT Marine Systems PLC is a global company which develops and
provides advanced vessel tracking, monitoring, management and
analytic systems which are 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,
illegal fishing detection and environment monitoring.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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