LONDON (ShareCast) - (ShareCast News) - Software Radio Technology expects to report a first-half pre-tax loss as its revenues this year are weighted towards the second half due to market demand timing driven by mandates and projects in the US, Middle East and Asia.
The company, which provides maritime domain awareness technologies, products and solutions, said it expects to post revenue of £3.6m, resulting in a loss of £700,000 and a cash balance of £2.3m.

It said that as at the period end, it had an order book of £3.6m of confirmed orders scheduled for delivery before 31 March 2016.

In addition, it expects to receive and deliver new orders during the second half of the financial year.

Chief executive officer Simon Tucker said: "During the second half we expect to fulfil our existing £3.6m order book, as well as delivering against further expected orders from our day to day core business, mandates in the USA and Asia and existing and new projects from our validated pipeline.

"This places SRT in an excellent position to achieve a strong second half and thus overall financial performance this year."

At 1113 BST, Software Radio shares were down 8.6% at 22.85p.

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