Business
Final Results for the year ended 31 March 2018
Final Results for the year ended 31 March 2018.
About this update from Srt Marine Systems Plc
[{"type":"text","content":"\n \nRNS Number : 3639V SRT Marine Systems PLC 23 July 2018 \n\n \n \n \nSRT MARINE SYSTEMS PLC\n(AIM: SRT)\n(\"SRT\" or the \"Company\")\n \nFINAL RESULTS FOR THE YEAR ENDED 31 MARCH 2018\n \nSRT, the AIM-quoted provider of maritime domain awareness technologies, products and solutions, announces its results for the year ended 31 March 2018.\n \nFINANCIAL SUMMARY\n \n· Increase in systems business sales opportunity pipeline\n \n· Reduction in revenues due to contract timing\n \n· 43% Gross profit margin\n \n· 35% increase in product development investment\n \n \n \nOPERATIONAL HIGHLIGHTS\n \n· Expansion of transceiver customer base\n \n· Progress with system sales opportunities\n \n· New functionality implemented in GeoVS system\n \n· Transfer of transceiver production to new facility\n \n \nCommenting on today's results, Simon Tucker, CEO of SRT said:\n \n\"I am very disappointed with the shortfall in our revenues for the year, which was caused by an unexpected contract change. This does not reflect the excellent operational progress the business has made with regards to product development and sales opportunities. I recognise that we are measured on the profits that SRT delivers and to that end expect SRT to measure up to expectations in the near future. \"\n \n\n \n \n \n\n\n\n\n\n\n\n\nContacts:\n\n\n \n\n\n\n\nSRT Marine Systems plc\n\n\nwww.srt-marine.com \n+ 44 (0) 1761 409500\n \n\n\n\n\nSimon Tucker (CEO)\n\n\[email protected]\n\n\n\n\nLouise Coates (Marketing Manager)\n\n\[email protected]\n \n\n\n\n\nfinnCap Ltd\n\n\n \n\n\n\n\nJonny Franklin-Adams / Anthony Adams (Corporate Finance)\n\n\n+44 (0) 20 7220 0500\n\n\n\n\nTim Redfern / Richard Chambers (Corporate Broking)\n\n\n \n\n\n\n\n \n\n\n\n\n \n\n\n \n\n\n\n\n \n\n\n \n\n\n\n\n \n\n\n \n\n\n\n\n \n\n\n \n\n\n\n\n \n\n\...