Maritime systems developer SRT Marine Systems (LON: SRT) admits that two coastguard contracts are unlikely to reach their project revenue milestones in the 15 months to Jun 2024. This means that there will be another loss. Despite the bad news, the share price recovered 4.4% to 19p.
The contracts have to go through final completion administrative processes and the timing is not controlled by AIM-quoted SRT Marine Systems. The largest contract is dependent on the completion of an inter-government loan. There should £45m of income recognised when this is finalised. Once the other contract is...
