"As we reported in the trading update on 14 October 2013, the primary driver of revenue for the first half was our core business, which saw year-on-year growth of approximately 40%," SRT said.
"This is a long term trend which we expect to continue steadily in the future as more leisure and commercial vessel owners freely decide to install an AIS transceiver, coupled with our strategy of enabling established marine electronics brands to have their own range of competitive AIS devices," the company said.
Unlike the first half in the prior year, there was no significant contribution to revenue from our project and mandate business.
"During the second half we expect to see a healthy contribution from our core business, plus a significant contribution from various project and mandate driven business."
SRT's partners are addressing a wide range of market opportunities which are in progress or pending.
Our expectation is that those which are in progress, such as the EU Fisheries, will generate additional demand for our Class A products during the second half, whilst pending mandates such as the US Coast Guard rule extension could make a significant contribution as and when it is brought into law.
Additionally there are several of the many project opportunities which appear likely to convert into material orders during the second half following an extended period of evaluations and trials.
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