SRT Marine Systems PLC Trading Update (3873C)
April 13 2017 - 2:00AM
UK Regulatory
TIDMSRT
RNS Number : 3873C
SRT Marine Systems PLC
13 April 2017
SRT MARINE SYSTEMS PLC
(AIM: SRT)
("SRT" or the "Company")
Trading Update
SRT, the global provider of maritime tracking technologies,
products and turn-key MDA system solutions, is pleased to provide a
trading update for the financial year ended 31 March 2017.
Subject to audit, for the year ended 31 March 2017 the Company
expects to report revenue of GBP11 million, which is ahead of last
year and profit before tax of GBP1.2 million which is significantly
ahead of market expectations. As at the year end, gross cash
balances were GBP1.7 million.
SRT will publish its final results and annual report on 7(th)
June 2017. The annual report will be available for download from
the Investor section of the website that day, with printed copies
mailed to shareholders shortly after.
The Company will be hosting an investor open day at its offices
near Bath on 12 July 2017 between 9.00 a.m. and 11.00 a.m., which
will be immediately followed by the AGM commencing at 11.00 a.m on
the same day.
The Company advises that the next live web cast by Simon Tucker
shall be at 8am on Tuesday 2(nd) May 2017. Thereafter a live web
cast will take place approximately every three months with an
RNS-Reach announcement confirming the exact date one week prior to
each web cast.
Simon Tucker, CEO of SRT said: "I am delighted to be reporting
profits which are well ahead of market expectations. This reflects
the benefits of our strategic decision in 2013 to develop a range
of maritime domain awareness system solutions for ports, fisheries
and coast guards. During the year SRT has made significant progress
across all our business segments, OEM & Module, em-trak, and
Systems, delivering high quality products and solutions to
customers across the world. Notably, in addition to those projects
under contract and recently signed, we have also seen excellent
progress with a number of our validated sales pipeline
opportunities moving closer to contract and thus revenues and I
look forward to updating the market in due course when they
convert."
Contacts:
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
Jonny Franklin-Adams / Simon +44 (0) 20 7220
Hicks (Corporate Finance) 0500
Emily Morris / Camille Gochez
(Corporate Broking)
About SRT Marine Systems plc:
SRT develops, manufactures and supplies maritime tracking
technology and turn-key system solutions to marine stakeholders
across the globe with a particular expertise in AIS. 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.
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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