SRT, the AIM-quoted developer and supplier of maritime surveillance, analytics and management systems and products announces its unaudited interim results for the six months ended 30 September 2023 (the “Period”).

Financial Highlights

• Continued year on year growth of transceivers business.
• £2.5m new product and technology investment.
• £160m systems contract order book for System deliveries to commence in H2.
• Gross cash balance at end of H1 £3.9m (H1 2022: £1.5m).

Operational Summary

• NEXUS transceiver product commences testing and launch planning.
• Final completion phase of Philippines – BFAR fisheries contract.
• £40m Middle East Border Agency maritime surveillance project – Phase 1 completed, and planning and preparation for final Phase 2.
• Planning and procurement for commencement of £145m SE Asia coast guard project signed in May.

Commenting on today’s results, Simon Tucker, CEO of SRT said:

“The hard work and progress made across the business during the first half has prepared us for a busy second half, with the scheduled delivery of a number of system project milestones and continued growth of our transceivers business. In line with this, we are on track to complete our financial year end as expected.”

News in full

In the interview below, CEO Simon Tucker outlines SRT’s business and growth plans, as well as an overview of their market