SRT - a transformational year
Software Radio Technology (SRT) issued excellent final results today (Monday 6 June). Turnover and profits were up and the tone of the Chairman’s statement was encouraging. Drilling down through the figures we find that not all segments of the business performed well and the results were rather rescued by a late large contract win. However, with a £70 million order book and a £200+ million sales pipeline, future prospects certainly look very promising.
Software Radio Technology (AIM: SRT) http://www.softwarerad.com/ SRT’s results for the year to 31 March 2016 were in line with the Trading Update issued by the Company in April. Revenue was reported at £10.7 million compared with £8.5 million in 2015 and Profit Before Tax was £275,000 (2015: £379,000 loss). Chairman, Simon Rogers opened his results statement by saying that the year had seen SRT transform into a global maritime system integration company, providing a broad range of Maritime Domain Awareness solutions. Shares in SRT have performed strongly since the Company announced in March 2016 a breakthrough £70 million contract to…