Maritime technology business SRT Marine Systems has revealed it expects to secure a contract worth $10m (\u00a37.8m), that could lead to further sales of another $10m.<\/p>\n
The Bath-based company is a global leader in maritime surveillance and last month won a $180m (\u00a3140m) contract. Both contracts are with unnamed national coast guards.<\/p>\n
SRT’s share price reached an all-time high earlier this month and has doubled in the past year, boosted by confident forecasts from the company.<\/p>\n
Simon Tucker, chief executive of SRT Marine Systems, said: “The accumulated investment of many years is now being reflected in the accelerating pace at which our new contract opportunity pipeline is growing and then transitioning into contract.<\/p>\n
“Over the last year, our pipeline of new system contract opportunities, has grown to an approximate value of \u00a31.4bn, of which \u00a3380m are at a mature stage in the sales cycle with increasing surety of timing.”<\/p>\n
This deal is with a customer that commissioned an SRT-supplied system in 2016 and is now upgrading.<\/p>\n
A contract is expected to be signed “within the next few months” and the $10m implementation of the system upgrade should then be completed within a year. SRT is forecasting some revenues will be received in the current financial year.<\/p>\n","protected":false},"excerpt":{"rendered":"
Surveillance specialist is bullish about its deal pipeline<\/p>\n","protected":false},"author":18,"featured_media":3772,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[120785,120781,50204],"coauthors":[81],"class_list":["post-5023","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international","category-markets","category-technology","tag-bristol-and-bath","tag-featured-story"],"yoast_head":"\n