Software Radio Technology (SRT:AIM) - new order brings out caution from former broker
The developer of advanced radio communications technologies has received an order for 500 Identifiers from a customer in India. The Identifiers are a customised version of SRT's standard Identifier product platform and will be delivered before the end of April 2013. It is expected that the trial could take up to 12 months and require additional product customisation before commencement of a large scale rollout.
Former house broker Westhouse has issued a cautionary note
Westhouse maintains the view that, “having consumed £1.6m of cash during H1 the conversion of inventories into cash during the second half of the year is imperative.” It continues that “In the absence of significant orders from European mandates during the second half of the financial year, increased caution over cash generation is justified”.
More positively they consider the medium term attractions of an expanding…
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