9th Nov 2026 14:15
(Alliance News) - SRT Marine Systems PLC on Monday recorded a surge in profit and revenue, as demand for civil-defence and intelligence capabilities grows among countries.
The Midsomer Norton-based maritime surveillance systems provider said pretax profit for the year ended June 30 was GBP10.7 million soaring from GBP1.4 million a year earlier.
Revenue rose 46% to GBP114.1 million from GBP78.0 million. Of this, GBP9.8 million came from its navigation safety business, while its systems business generated GBP104.3 million.
The company reported no exceptional finance costs, compared with a non-cash exceptional finance cost of GBP3.4 million in the previous year.
Chair Kevin Finn said: "This is the result of a number of factors coming together that include the growing trend of sovereigns wanting their own independent civil-defence surveillance and intelligence capability, our strategic decision of many years ago to create such a system, and a growing set of reference customers that provide proof of the value of these systems and that SRT is a reliable long term partner delivering for these customers and capable of continual innovation."
SRT said it increased its validated new contract opportunities to GBP2.4 billion, while converting GBP218.4 million of system contracts during the year from its previously identified GBP1.8 billion opportunity pipeline. Its contracted order book stood at GBP539.5 million at June 30.
In August, SRT announced its five-year STS Strategy, which will see it expand into land and low-altitude air border surveillance and intelligence, alongside its existing maritime activities.
Looking to financial 2027, Finn said the company expects the first half to be loss-making due to a heavier weighting of lower-margin infrastructure completions, with this expected to be offset by higher-margin SRT Tech Modules deliveries in the second half.
SRT shares rose 1.3% to 69.40 pence each in London on Monday afternoon.
By Niall Holden, Alliance News reporter
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