Software Radio non-exec stocks up as group looks ahead with confidence

14th Oct 2013 16:32

Software Radio Technology announced Monday that Andrew Lapping, a Non-Executive Director, acquired 50,000 shares at 29.50p each, taking his total interest in the company to 1.18m shares. The group also gave a trading update, in which it revealed that it expects to report revenues of £3.2m and a loss before tax of £0.4m for the six months ended September 30th. At that date, the group had cash balances of £2.2m and no debt.In a statement the company said: "As stated in the final results in June, we expected the current year to be weighted towards the second half due to the timing of particular mandates and projects, some of which will make a significant contribution during the second half. "Revenues for the first half were primarily generated from our core non-mandated leisure and commercial markets which showed continuing growth, increasing approximately 40% over the corresponding period last year." Looking ahead, Software Radio expects to see a "significant" increase in revenue, which will be primarily driven by demand arising from existing mandates already underway, the possible implementation of some significant new mandates and the implementation of a number of the many project opportunities on which it has been working with its customers. "In addition, our core business is expected to continue to grow in line with the general commercial and leisure markets and make a healthy contribution," it added. Top Director BuysPremier Gold Resources (PGR) Director name: Mr Christian SchaffalitzkyAmount purchased: 13,986,014 @ 0.14p Value: £19,580Software Radio Technology (SRT) Director name: Mr Andrew Christopher LappingAmount purchased: 50,000 @ 29.50p Value: £14,750Shanta Gold Ltd. (SHG) Director name: Mr Anthony DurrantAmount purchased: 100,000 @ 13.80p Value: £13,800NR