H1 - FY26 Trading Update
SRT Marine Systems PLC reported a strong first half for FY26, with unaudited group revenues reaching £51.1 million, a significant 95% increase from £26.2 million in the prior year's comparable period, and profit before tax rose by 47% to £3.1 million. The company's gross cash balance also saw substantial growth, increasing by 85% to £41.5 million as of December 31, 2025. Both business divisions performed as expected, with ongoing execution of major projects and a substantial £1.8 billion opportunity pipeline, including a recently announced $200 million award notification awaiting final approvals, suggesting continued positive momentum.
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SRT Marine Systems plc ('SRT'), a global provider of intelligent maritime surveillance systems for sovereigns and maritime navigation safety systems is pleased to provide an unaudited trading update for the 6 month financial period ending 31st December 2025 ('H1 FY26').
H1 FY26 Financial Summary (Unaudited)
| H1 FY26 | H1 FY25 | % change | |
|---|---|---|---|
| Group Revenue | £51.1m | £26.2m | 95% |
| Profit before tax | £3.1m | £2.1m | 47% |
| Gross cash balance | £41.5m | £22.4m | 85% |
H1 Financial and Operational performance
Unaudited group revenues for the first half are expected to be £51.1m, generating an expected profit before tax of £3.1m. As at 31st December 2025 the Group's gross cash balance, inclusive of restricted cash of £27.3m, was £41.5m.
Both our business divisions, Navigation Safety and Integrated Marine Surveillance Systems have performed in line with expectations. We have continued to execute simultaneously on four major system projects and continue to maintain and support a fifth.
In H2 we expect both divisions to continue to progress, with possible upside from the commencement of NEXUS deliveries, and new system contract conversions from our £1.8bn opportunity pipeline of which a $200m award notification was announced on 18 September 2025 and is now awaiting final contracting and finance approval.
Simon Tucker, SRT CEO said: "I am very happy with our H1 results which are in line with our expectations. As reflected by our £300m active-contract book and £1.8bn new contract opportunity pipeline we are experiencing strong and sustained global interest in our solutions underpinned by a new and evolving understanding of the importance of the marine domain. I expect to see SRT continue to gather pace and deliver strong growth this financial year and many years to come."
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