Last checked at 11 Apr 2018 07:00
SRT MARINE SYSTEMS PLC
(AIM: SRT)
("SRT" or the "Company")
Year End Trading Update
SRT, the global provider of maritime tracking, monitoring and management systems, is pleased to provide a trading update for the financial year ended 31 March 2018.
Subject to audit, for the year ended 31 March 2018 the company expects to report a 22% year on year increase in revenues to £13.5 million, and profit before tax and exceptional items of £1.3 million which is broadly in line with market expectations.
SRT will publish its final results and annual report on Monday 23rd July 2018. The annual report will be available for download from the Investor section of the SRT website from 8:00am that day, with printed copies mailed to shareholders shortly after.
The Company's AGM will be held at 11:00am on Wednesday 5th September 2018 at its offices near Bath. Investors and shareholders are invited to a company open day immediately prior to the AGM on Wednesday 5th September 2018 between 9.00 a.m. and 11.00 a.m.
Simon Tucker, CEO of SRT said: "SRT have pioneered the development of the next generation of digital maritime monitoring technologies and systems, whose adoption across the multi-billion dollar global maritime domain awareness market sector is gradually gaining pace, but still remains in its very early stages. These results reflect the excellent progress we have made across all our business operating segments, in particularly our systems business which saw some significant milestone deliverables completed for an Asian project which we will provide more detail on in due course."
ENDS
Contacts:
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SRT Marine Systems plc | www.srt-marine.com + 44 (0) 1761 409500
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Simon Tucker (CEO) | simon.tucker@srt-marine.com |
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Louise Coates (Marketing Manager) | louise.coates@srt-marine.com
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finnCap Ltd |
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Jonny Franklin-Adams / Simon Hicks (Corporate Finance) | +44 (0) 20 7220 0500 |
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Emily Morris / Camille Gochez (Corporate Broking) |
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About SRT Marine Systems plc:
SRT develops, manufactures and supplies maritime vessel 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.