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The price of shares in AIM-listed maritime surveillance and monitoring equipment firm SRT Marine Systems (LON:SRT) has risen by 2.79% to 42.40p (as of 15:20 BST) as revenues for the six months ended 30th September rose by 10%. Despite this, losses for the half year widened by 15%.
CEO Simon Tucker commented: “SRT continues to make excellent progress in our chosen target markets of AIS transceivers and integrated maritime surveillance and intelligence systems for coast guards and fisheries. Our transceivers business continues to grow due to market recognition of the quality and performance of our products and I expect this to accelerate as we launch some new products and marketing later this year. Our various development and operation teams have performed well in delivering the technologies and physical installation of our complex systems against existing contracts – in particularly the world’s single largest fisheries monitoring system in The Philippines for our customer BFAR. The first half has also seen significant activity and progress around a number of pending system contracts and we look forward to updating shareholders regarding these during the second half and as such we remain comfortable with market expectations“.