Simon Tucker of SRT Marine Systems: First half revenues increase 300% to £18.8m
Episode 934, Oct 03, 2022, 10:30 AM
Simon Tucker, CEO of SRT Marine Systems #SRT talks through their trading update where first half revenues increased 300% to £18.8m generating an expected profit before tax to be not less than £1.5m.
Simon Tucker, CEO of SRT Marine Systems #SRT talks through their trading update where first half revenues increased 300% to £18.8m generating an expected profit before tax to be not less than £1.5m.
Half Year Trading Update
SRT, the global provider of maritime surveillance, monitoring and management systems, is pleased to provide an initial trading update for the six months trading period ended 30th September 2022, prior to the issue of full interim results on Monday 14th November 2022.
During the first half revenues were £18.8m - a 300% increase on the same period last year (H1 2021/22: £4.7m), generating an expected profit before tax to be not less than £1.5m. Despite continuing production constraints, our transceivers business revenue grew by approximately 20% to £5.2m (H1 2021/22: £4.2m). Our systems business delivered multiple operational and several revenue milestones, and thus generated approximately £13.6m (H1 2021/22: £0.5m) of revenue.
Simon Tucker, CEO of SRT said: "These results validate our earlier statements that both our business divisions have recovered and are now performing well, driven by a combination of good quality SRT products and fundamental long term market demand drivers. We look forward to the second half and providing further market updates with our continued progress."
Half Year Trading Update
SRT, the global provider of maritime surveillance, monitoring and management systems, is pleased to provide an initial trading update for the six months trading period ended 30th September 2022, prior to the issue of full interim results on Monday 14th November 2022.
During the first half revenues were £18.8m - a 300% increase on the same period last year (H1 2021/22: £4.7m), generating an expected profit before tax to be not less than £1.5m. Despite continuing production constraints, our transceivers business revenue grew by approximately 20% to £5.2m (H1 2021/22: £4.2m). Our systems business delivered multiple operational and several revenue milestones, and thus generated approximately £13.6m (H1 2021/22: £0.5m) of revenue.
Simon Tucker, CEO of SRT said: "These results validate our earlier statements that both our business divisions have recovered and are now performing well, driven by a combination of good quality SRT products and fundamental long term market demand drivers. We look forward to the second half and providing further market updates with our continued progress."