- First-half revenue up from £5.5mn to £25.5mn
- Pre-tax profit of £2.5mn, up from a loss of £4.6mn
- Four new contracts signed worth £182mn
- £334mn active order book
- £1.2bn pipeline of contract opportunities
Aim-traded SRT Marine Systems (SRT:48.5p), a global leader in technology used to track maritime vessels, has announced a return to profit and released a strong trading outlook.
In the six months to 31 December 2024, SRT’s systems business, which provides a sophisticated marine domain awareness (MDA) integrated AI-driven maritime surveillance system to sovereign agencies such as coast guards and fishing agencies, generated revenue of £21mn. This was derived from follow-on and recurring projects with three existing customers, as well as initial milestones on a significant £170mn contract signed in October 2024 that is delivering an integrated maritime surveillance system for the Kuwait government (‘A marine technology company building momentum’, 7 October 2024).