SRT wins $1.3m marine positioning order

20th Oct 2010 12:37

Technology developer Software Radio Technology, which won the best performing share award at the AIM awards last week, has added a further $1.3m worth of orders for its AIS Class A marine positional technology. These orders come from existing customers and will be delivered by the end of March 2011. On 13 July, the order book was worth $5.7m and there was a subsequent firm order for $750,000 of equipment plus another order which could be worth up to $2.4m. SRT reckons that 1m vessels will need to fit the AIS equipment over the next four years. The Chinese market is likely to be bigger than originally thought and SRT has signed up a second distributor. At the end of June 2010, SRT had cash of £1.23m and no debts.