- Maritime surveillance system supplier SRT Marine Systems booked a first-half loss after rising revenue was offset by expenses.

Pre-tax losses for the six months through September amounted to £1.54m, compared to losses of £1.31m on-year.

Revenue rose 9.8% to £3.5m, though gross margin contracted to 38%, back from 41%.

'Looking to the second half I expect to see our transceivers business benefitting from the increased sales channels and new product launches during the seasonal buying period,' chairman Kevin Finn said.

'I also expect to see our systems business completing several major performance milestones on our existing contracts and, subject to customer processes and timings, the conversion and commencement of new system contracts.'

'As such, the board remains comfortable with achieving market expectations.'

At 8:32am: [LON:SRT] SRT Marine Systems Plc share price was -0.25p at 41.5p

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