According to Dr Michael Tubbs, SRT Marine Systems is doing well and has a growing order book
Coastguards, fishing ministries, and port authorities must monitor the movements of numerous vessels. Established in 1987, SRT Marine Systems (Aim: SRT) is a pioneer in supplying the technology required to accomplish that. Clients include the RNLI lifeboat service as well as individual vessel operators and sovereign agencies.
Detecting illegal fishing, smuggling, and piracy, as well as determining borders and territorial sovereignty, are just a few of the significant issues that SRT's systems and technology help its clients solve. In order to do this, national fisheries authorities, ports and waterways authorities, coastguards, and border agencies use its maritime surveillance and monitoring systems. Static buoys and lighthouses are supplemented by SRTs' digital AtoN systems, which are navigation aids that interact directly with ships' electronic charts.
The technologies at play include transceiver systems and the automatic identification system for ships (AIS), which automatically transmits a vessel's position, identification, course, and speed. In one case study, a large wind farm was protected by an AIS AtoN installation that automatically marked its perimeter on ships' electronic charts. In another, SRT provided a low-cost vessel identifier so that its partner could give the authorities a system to keep an eye on its fishing fleet.
By 2034, the market for maritime surveillance technology is predicted to have doubled from its 2025 valuation of £23 billion to £26 billion. By 2035, the navigation-safety market is expected to have grown from £14 billion in 2025 to £24 billion.
Kuwait and SRT Marine Systems ink a £213 million deal.
A £213 million deal for a maritime surveillance system was signed by SRT and Kuwait in October 2024. It will take two years to implement that contract, and then ten years for maintenance, training, and support. For a business with 78 million in sales in 2024 - 2025, that is a significant contract.
Additionally, the second phase of a long-term project to develop a national integrated maritime marine domain awareness (MDA) coastguard system was approved by SRT in January of last year. The £15 million project is expected to be finished by the end of 2025, after which there will be a five-year support phase. In 2026, the third phase of the contract is scheduled to begin.
Currently, SRT has five such long-term partnerships with sovereign states, with the initial set of contracts worth 325 million (not including follow-on contract phases). Infrastructure, MDA system technology, training and organization, data services, and continuing support are the five main components of these projects. Delivery of additional data, such as processed AI data and satellite surveillance scans, is included in data services.
There are many more potential clients because MDA technologies are becoming more popular in relation to border and territorial security. As of October 2025, SRT had a verified sales pipeline of £1.8 billion. The chairman of SRT, Kevin Finn, claims the company currently has "good visibility" on roughly 500 million of the 1.8 billion, though the precise dates on which these opportunities are likely to become contracts vary. A £200 million award letter from a new sovereign client that SRT received following the end of its 2024 - 2025 fiscal year is included in that £500 million.
Income for SRT Marine Systems.
From 14.8 million in the 15 months leading up to the end of June 2024 to 78 million in the 12 months leading up to the end of June 2025, SRT's revenue increased more than five times. Due to this, the business turned a profit in 2023 - 2024, with an operating profit of 6.4 million as opposed to an operating loss of 13.2 million.
In 2024 - 2025, the MDA systems division generated 68.5 million in revenue, with navigation systems contributing an additional 9.5 million. The majority of the increase in revenue was attributed to MDA systems. With a global sales network of over 5,000 distribution and retail partners, well-known brands, tested products, and new products in development, SRT is therefore well-positioned for continued expansion.
SRT Marine Systems' performance.
For the year ending in June 2025, SRT reported revenue of 78 million (up 426 percent), operating profit of 6.4 million, and adjusted pre-tax profit of 4.9 million. The adjustment eliminates a one-time non-cash exceptional finance cost of 3.45 million, which ensures a project performance bond for a significant client. ().
According to the 2024 - 2025 report, Kevin Finn, the chairman, states that the company's future is "very positive". Furthermore, as "the world seeks to acquire a new generation of integrated systems that empower them with insight and intelligence" over the marine domain, there is a lot of room for further expansion.
With a 203 million market capitalization, SRT has not yet paid a dividend because it is investing in new products as well as infrastructure for sales and services. The forward price-earnings ratio is 18.3, and the shares are currently trading at 80.5p. Over the last year, the shares have increased by 96%, and the future appears promising. As previously mentioned, the company is currently delivering an initial set of contracts totaling 325 million for five sovereign states, and it has good visibility into another 500 million out of its 1.8 billion contract pipeline.
Additionally, SRT wants to expand its product line into digital on-board navigation and other related fields where its core technologies and capabilities could be advantageous, like aviation and Navy-related devices. Although SRT is a relatively small business that has only recently turned a profit, its growth prospects mean that the risk is offset by potentially large rewards.
Systems for SRT Marine.
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