Despite hopes that COVID restrictions would only last a few months, they have continued for over a year, resulting in a similar delay to the Maritime Surveillance System business. No milestones were reached (some were close) in FY21 and thus no System revenue is recognised, leading to a £5.8m LBT. FY21 sales are thus just Transceivers alone; that division actually seeing YoY growth with stable gross margins, laudable in a year of COVID. For Systems it has been a ‘lost year’, however this is only ....
09 Apr 2021
SRT Marine Systems - COVID delays Systems but prospects continue to grow
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SRT Marine Systems - COVID delays Systems but prospects continue to grow
SRT Marine Systems plc (SRT:LON) | 21.0 -0.6 (-12.5%) | Mkt Cap: 46.8m
- Published:
09 Apr 2021 -
Author:
Cavendish Research -
Pages:
5
Despite hopes that COVID restrictions would only last a few months, they have continued for over a year, resulting in a similar delay to the Maritime Surveillance System business. No milestones were reached (some were close) in FY21 and thus no System revenue is recognised, leading to a £5.8m LBT. FY21 sales are thus just Transceivers alone; that division actually seeing YoY growth with stable gross margins, laudable in a year of COVID. For Systems it has been a ‘lost year’, however this is only ....