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Software Radio Technology

  • BY: Andrew Hore |
  • POSTED: 18/11/2009 |

Software Radio Technology more than doubled its interim revenues.

The maritime tracking technology developer reported a rise in revenues from £945,000 to £2.09m in the six months to September 2009. The loss fell from £550,000 to £197,000. The figure was boosted by other net operating income of £167,000. There was capitalised development spending of £434,000 offset by amortisation of £204,000.

The business was cash generative in the period and there was net cash of £705,000 at the end of September 2009.

It is difficult to assess when new orders will come through. A number of countries are planning legislation forcing boats to have marine tracking and identification equipment.

Shares in SRT fell 1.625p to 8.625p each, which values the company at £8.44m. The share price is still three times the level it was six months ago.

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