FY Mar 2020 results appear to be ahead of expectations with revenue of £18.8m against our £17.5m forecast (as revised last month); we adjust our expectations accordingly. COVID-19 restrictions are of course imposing delays on both existing projects and the imminent signing of the new contracts due in the Middle East. To deal with this, SRT has implemented an operating plan to reduce costs and has significantly strengthened its cash position, raising between £2.8m and £
08 Apr 2020
SRT Marine Systems - Balance sheet strengthened to deal with COVID delays
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SRT Marine Systems - Balance sheet strengthened to deal with COVID delays
SRT Marine Systems plc (SRT:LON) | 29.5 0 0.0% | Mkt Cap: 65.7m
- Published:
08 Apr 2020 -
Author:
Cavendish Research -
Pages:
8
FY Mar 2020 results appear to be ahead of expectations with revenue of £18.8m against our £17.5m forecast (as revised last month); we adjust our expectations accordingly. COVID-19 restrictions are of course imposing delays on both existing projects and the imminent signing of the new contracts due in the Middle East. To deal with this, SRT has implemented an operating plan to reduce costs and has significantly strengthened its cash position, raising between £2.8m and £