Image source: © 2025 Krish Capital Pty. Ltd.

Highlights:

  • SRT Marine Systems reports FY25 unaudited revenue of GBP 77.5 million and PBT of GBP 4.4 million.
  • SRT’s active system contracts now total GBP 320 million with a validated pipeline estimated at GBP 1.4 billion.
  • SRT to begin shipping new NEXUS transceiver in H1FY26 targeting global commercial and leisure markets.

SRT Marine Systems plc (LSE:SRT), a provider of integrated maritime surveillance and management systems, has issued a trading update for the 12 months ended 30 June 2025, projecting full-year unaudited revenues of GBP 77.5 million and a profit before tax and non-cash exceptional finance charges of GBP 4.4 million. The company ended the period with gross cash balances of GBP 9.9 million and trade receivables of GBP 48.4 million, most of which are expected to be collected shortly after the year-end.

The company’s systems business, which delivers maritime domain awareness (MDA) and surveillance systems to sovereign clients, recorded revenue from five customers over the reporting period. These projects support national-level initiatives to improve maritime security, safety, and domain control capabilities. A significant milestone during the year included a GBP 213 million contract signed with the Kuwait Coast Guard in October 2024, contributing to the company’s GBP 320 million in active system contracts under implementation.

SRT also reported ongoing growth in its new business pipeline, now validated at approximately GBP 1.4 billion, with expectations for further contract closures. These pipeline opportunities span a range of new and existing government clients seeking integrated maritime surveillance capabilities.

In its transceivers segment, which focuses on navigation and communication devices for the commercial and leisure maritime sectors, SRT expanded distribution and completed development of its next-generation NEXUS product. The company expects to begin shipping the NEXUS device in the first half of FY26, following final preparations. This launch marks the beginning of a product expansion strategy intended to utilise SRT’s global distribution network across marine markets.

The company expects to publish its audited full-year results in November 2025, with its Annual General Meeting scheduled for early December. Final dates will be confirmed in September.

CEO Simon Tucker noted that the year’s financial and operational performance reflects long-term market engagement in maritime digitalisation, with national stakeholders increasingly turning to technology including artificial intelligence for enhanced oversight and environmental monitoring. While the CEO remains optimistic about future business development, the company refrained from offering forward-looking financial forecasts beyond the immediate product launch.

As of 9 July 2025, SRT shares were trading 3.58% higher at GBX 78.20 on the London Stock Exchange.