LONDON (ShareCast) - Marine tracking group Software Radio Technology has revealed that revenue and losses will come in at the bottom end of its previous indications.

The AIM-listed company made a separate announcement that a frame order for Automatic Identification System (AIS) maritime equipment worth $6.75m has been
received, of which the first $0.45m has already been shipped.

But for the year to March 31st SRT said it expected to report revenue of £6m and a loss before tax of £1.5m, as the core business was lower than expected due to general economic conditions and the slower roll-out of some of the commercial mandates requiring ships to carry its AIS based technology in the EU and US.

Chief Executive Simon Tucker said: "This year has undoubtedly been challenging and we are disappointed with the timing of some of the projects.

"However, on the ground the global marine domain awareness market, across all segments, is providing more opportunities than ever before. In a little over a decade AIS has moved from a niche technology for large ships to one that is being integrated into the marine domain to sit alongside radar across multiple applications."

Shares in SRT were down 1.8% to 20.38p at 11:17 on Wednesday.

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