SRT Marine Systems PLC Trading Update (3873C)

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)     [e-mail] 
 finnCap Ltd 
 Jonny Franklin-Adams / Simon                       [phone] 
  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

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April 13, 2017 02:00 ET (06:00 GMT)