Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Birmingham Post
Birmingham Post
Andrew Arthur

South West maritime tech firm SRT Marine Systems lands new deal

A South West tech firm which provides maritime surveillance systems to clients in the defence and fishing sectors has secured a new deal worth around £200,000 ($260,000).

SRT Marine Systems, based in Midsomer Norton in North East Somerset, said it had received a “strategically notable” order from a Japanese customer for its Digital Aids to Navigation System (DAS) products.

The Aim-listed firm said the digital transceivers, which transmit information to vessels and navigation authorities in real time, are predominantly used to enhance navigation safety and efficiency.

The deal comes after the company signed a £144m contract with a national coast guard in May.

Chief executive Simon Tucker said: "DAS is a division of our transceivers business which we started many years ago in order to establish first mover advantage. As shipping digitises we see significant future opportunities for our DAS."

In a set of half-year results released in November, SRT reported a 300% revenue rebound following the Covid-19 pandemic, helping it swing back to a profit after tax of £2.1m for the six months to September 2022 - compared to a loss of £3.1m for the same period a year earlier.

Like this story? Why not sign up to get the latest South West business news straight to your inbox.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.