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Results: SRT

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SRT Marine Systems – interims, emphasises “profit” but what about cash flow?

SRT Marine Systems (SRT) has announced results for its half-year ended 30th September 2022 emphasising “revenue increase to £18.8m (H1 2021 £4.7m)… £2.1m - profit after tax (H1 2021 Loss of £3.1m)… we expect this trend to continue going forward driven by fundamental long-term demand drivers for maritime domain awareness”. Sounds good – and what of a current 5.5% share price rise to 48p, an £86.7 million market cap?


SRT Marine Systems – AGM trading update, how “material” is the half-year improvement?

SRT Marine Systems (SRT) has announced that it “has made excellent financial and operational progress during the first half of the financial year across both its transceiver and systems divisions, and that therefore the company is expecting H1-2022 to be materially better than the same period last year”. So what of a current 11.1% higher share price response to 28p?


SRT Marine Systems – following full-year results, what of the share price fall?

SRT Marine Systems (SRT) has announced that its AGM and presentation on Wednesday will also be live streamed and will be preceded by an open day at the company's offices. That is creditable investor relations but what about a share price down from approaching 50p early this year to a current below 25p following its full-year results?


SRT Marine Systems – placing “to provide working capital”, why the massive discount then?...

Previously writing on SRT Marine Systems (SRT), in January with the shares up to 47p I noted interims having shown a more than £3 million loss on revenue of £4.7 million, with a swing to a £1.4 million net current liabilities position and also £1.7 million of non-current liabilities and that I retained caution HERE. Now the company’s “pleased to announce… concluded its Bookbuild process, successfully raising gross proceeds of £4.9 million through the placing”. So what about a more than 11% share price fall to 34.25p in response?...

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