SRT MARINE SYSTEMS PLC

Management Reports • Oct 6, 2015

National Storage Mechanism | Additional information

You don't have Javascript enabled. For full functionality this page requires javascript to be enabled.

RNS Number : 2982B

Software Radio Technology PLC

06 October 2015

SOFTWARE RADIO TECHNOLOGY PLC

("SRT" or the "Company")

Trading Update and Details of Webcast and Interim Results

SRT, the AIM-quoted provider of maritime domain awareness technologies, products and solutions, is pleased to provide an update in respect of the expected results for the six months ended 30 September 2015.

Revenue for the first half of the financial year was £3.6 million, resulting in a loss before tax of £0.7 million and a cash balance of £2.3 million as at 30 September 2015.

As at the period end the Company had an order book of £3.6 million of confirmed orders scheduled for delivery before 31 March 2016.

In addition, the Company expects to receive and deliver new orders during the second half of the financial year.

Simon Tucker, SRT CEO, said: "As expected, our revenues this year are second half weighted due to market demand timing driven by mandates and projects in the USA, Middle East and Asia.  During the second half we expect to fulfil our existing £3.6 million order book, as well as delivering against further expected orders from our day to day core business, mandates in the USA and Asia and existing and new projects from our validated pipeline.  This places SRT in an excellent position to achieve a strong second half and thus overall financial performance this year."

Webcast

Simon Tucker will be hosting a live webcast at 7.30 a.m. on Thursday 8 October 2015.  This is open to shareholders and prospective shareholders.

The webcast can be viewed live by any interested person by following the instructions below.

The format of the live webcast will be as follows:

1.      Immediately prior to the 7.30 a.m. start time of the web cast, persons wanting to view the webcast live should go to the Media Centre section of the SRT plc website at  www.softwarerad.com click on the LIVE WEBCAST and complete the short registration process.

2.      The registration process should take no more than a minute to complete and will provide full, confidential, access to watch the live webcast and submit questions in real time to Simon Tucker using the text box on the viewing page.

Questions may also be submitted prior to the event by emailing them to [email protected].  The identity of persons registering for and viewing the webcast and or submitting questions will be kept confidential and will not be broadcast and or used for any marketing purposes by SRT or any third parties.

Shortly after the event an unedited recording of the webcast will be available in the media centre section of the SRT website.

Interim results

The full interim report and results for the six months ended 30 September 2015 will be released on Tuesday 10 November 2015.

Details of all investor events can be found in the investors section at www.softwarerad.com 

Contacts:
Software Radio Technology plc	www.softwarerad.com + 44 (0) 1761 409 500
Simon Tucker (CEO)	[email protected]
Louise Coates (Marketing Manager)	[email protected] [email protected]
WH Ireland Limited
Tim Feather / Liam Gribben	+44 (0) 113 394 6600

About SRT plc

Software Radio Technology plc develops advanced radio communication based marine domain awareness technologies, products and systems.  These are customised and provided to a global customer base to meet worldwide market demand to identify and track vessels of all sizes in leisure, commercial and homeland security applications.

This information is provided by RNS

The company news service from the London Stock Exchange

END

TSTFSFFMIFISEES