- First-half revenue falls 70 per cent to £5.5mn
- Interim pre-tax loss of £4.6mn
- Full-year profit guidance maintained
The absence of any revenue from its maritime systems business explains the hefty pre-tax loss for Aim-traded SRT Marine Systems (SRT: 38.5p). However, the directors expect substantial milestone payments to be earned in the second half from the group’s £160mn contracted order book, so are confident of hitting analysts' full-year expectations.
To put the second-half forecast growth into perspective, house broker Cavendish expects SRT to deliver £55.8mn of revenue from its systems business and £9.6mn of revenue from its transceiver activities. On this basis, the £74mn market capitalisation company could more than double annual revenue from £30.4mn to £70.9mn and report pre-tax profit of £7.2mn in the 12 months to 31 March 2024.