SRT Marine Technology in the News

31st March 2010 - City Road

Software Radio Wins New Order

Secure communication specialist Software Radio Technology (SRT) has won $1.46 million (£976,000) of orders for its new AIS Class A transceiver.

The West Country-based company, whose technology enables ships and boats to locate and identify each other, says it has already received confirmation payments from customers for the Automatic Identification System Class A transceiver, a combined transmitter and receiver.

International shipping rules require-vessels of more than 300 tonnes to fit Class A transceivers. AIM-quoted SRT says the AIS Class A provides
specific features primarily used by larger commercial vessels.

SRT, steered by managing director Simon Tucker, argues that the demands of operational efficiency, as well as regulation, are driving the market for Class A transceivers. For example, the European Union Inland Waterway Mandate obliges certain commercial vessels operating along the Rhine to install them by the end of next year, creating one potential market that is alone worth some £20 million.

Floated at 35p in 2005,SRT shares reached nearly 60p before a series of setbacks and disappointments saw them collapse to 1.75p within the past year. The company, which lost £1.3 million in the year to March 2009, cut its interim loss to September by 64 percent to £197,000 and fans suggest it is heading into the black.

Highlighted by Growth Company Investor last month at 9.75p, the shares have now reached 14.5p, valuing SRT at £14 million. They should rally further if progress is maintained.