9th Mar 2016 08:48
LONDON (Alliance News) - Software Radio Technology PLC on Wednesday said it has signed a significant maritime domain management system agreement in Asia, sending its shares higher in early trade.
The stock was up 27% to 23.45 pence, one of the best performers in the AIM All-Share.
The maritime tracking technologies provider said it has signed a deal to work on the implementation of a national integrated maritime system for the unnamed Asian country, which is expected to generate revenue of up to EUR90.0 million over three years.
"This agreement marks the conversion of a further project, and one of the largest, in our validated sales opportunity pipeline. This is a substantial maritime domain awareness project involving many stakeholders and we have been working towards this for several years," said Simon Tucker, the company's chief executive.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Srt Marine Sys.