Proactiveinvestors United Kingdom Remote Monitored Systems https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom Remote Monitored Systems RSS feed en Fri, 22 Mar 2019 03:47:31 +0000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20190213092642_13967943/ Wed, 13 Feb 2019 09:26:42 +0000 https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20190213092642_13967943/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20190212140039_13966794/ Tue, 12 Feb 2019 14:00:39 +0000 https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20190212140039_13966794/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20190212102736_13966440/ Tue, 12 Feb 2019 10:27:36 +0000 https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20190212102736_13966440/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20190212102541_13966435/ Tue, 12 Feb 2019 10:25:41 +0000 https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20190212102541_13966435/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20190211140759_13965207/ Mon, 11 Feb 2019 14:07:59 +0000 https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20190211140759_13965207/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20190208144148_13963734/ Fri, 08 Feb 2019 14:41:48 +0000 https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20190208144148_13963734/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20190131171757_13954275/ Thu, 31 Jan 2019 17:17:57 +0000 https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20190131171757_13954275/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20190131070002_13952603/ Thu, 31 Jan 2019 07:00:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20190131070002_13952603/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20190125123740_13947436/ Fri, 25 Jan 2019 12:37:40 +0000 https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20190125123740_13947436/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20190124172230_13946181/ Thu, 24 Jan 2019 17:22:30 +0000 https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20190124172230_13946181/ <![CDATA[Media files - More growth ahead in 2019 for Remote Monitored Systems - Chairman Burton ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/11892/more-growth-ahead-in-2019-for-remote-monitored-systems---chairman-burton-11892.html Fri, 18 Jan 2019 12:07:00 +0000 https://www.proactiveinvestors.co.uk/companies/stocktube/11892/more-growth-ahead-in-2019-for-remote-monitored-systems---chairman-burton-11892.html <![CDATA[News - Remote Monitored Systems raises £350,00 in placing to support growth and reduce debt ]]> https://www.proactiveinvestors.co.uk/companies/news/212403/remote-monitored-systems-raises-35000-in-placing-to-support-growth-and-reduce-debt-212403.html Remote Monitored Systems PLC (LON:RMS) has raised £350,000 in a share placing to fund growth in its core business areas and to help clear its debt burden.

The survey, inspection and monitoring company said it has issued a total of around 53.8mln new shares at a placing price of 0.65p, a 9.7% discount to its last close price of 0.72p. The shares will be admitted to trading on 17 January.

READ: Remote Monitored Systems subsidiaries report increased sales and revenues over 2018

RMS’s non-executive chairman, Nigel Burton, had subscribed £100,000 for around 15.3mln shares in the placing, which would take his interest in the firm to 6.8%.

Trevor Brown, chief executive of the firm, also subscribed £100,000 for 15.3mln shares which would take his interest to 22.8%.

Brown said the funds would be “utilised to promote the continuing growth of both of our operating businesses”, adding that the participation of the board members was “an eloquent statement about our confidence in the future".

“We expect 2019 to be a period of strong growth for our two operating businesses, Geocurve and Gyrometric, and this Placing provides the resources necessary to fund that growth. Our objective remains to minimise dilution and maximise growth in shareholder value by controlling costs and focusing investment on growing our sales teams whilst we continue to seek further opportunities to enhance shareholder value."

In late-morning trading Friday, RMS shares were down 3.4% at 0.7p.

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Fri, 11 Jan 2019 11:56:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/212403/remote-monitored-systems-raises-35000-in-placing-to-support-growth-and-reduce-debt-212403.html
<![CDATA[RNS press release - Placing to raise £350,000 and Director dealings ]]> https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20190111114017_13932178/ Fri, 11 Jan 2019 11:40:17 +0000 https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20190111114017_13932178/ <![CDATA[News - Remote Monitored Systems subsidiaries report increased sales and revenues over 2018 ]]> https://www.proactiveinvestors.co.uk/companies/news/212208/remote-monitored-systems-subsidiaries-report-increased-sales-and-revenues-over-2018-212208.html Remote Monitored Systems PLC (LON:RMS) has reported that its subsidiaries, Geocurve and GyroMetric, saw increased sales and revenues across 2018.

In a trading update for the year ended 31 December, the survey, inspection and monitoring firm said Geocurve had reported revenues of £1mln, an increase of 57% year-on-year.

READ: Remote Monitored Systems' Geocurve subsidiary accepted into EU's KEEP+ funding programme

Geocurve had also been awarded a £1.1mln contract for 3D and Virtual Reality survey services from the Environment Agency for its Thames Estuary Asset Management 2100 programme and had delivered the initial phase.

The firm had also completed a number of contracts for other customers including Hesselberg Hydro, BAM Nuttall and Aecom, with further growth expected in 2019 as it focused on the acquisition of “major corporate customers”.

Gyrometric, in which RMS holds a 58% controlling interest, continued to increase sales of its active protection system to protect large marine drives, although these had been modest, while during the year it had also completed successful trials of its Incremental Motion Encoder (IME) at the wind turbine drive train test facility at the Offshore Renewable Energy (ORE) Catapult at Blyth.

RMS said these trials had led to “serious interest from two major turbine manufactures”, one of which had signed a contract to test the IME system on its own equipment in 2019 with a further trial scheduled at ORE for the other. Further developments were expected in the new year.

Gyrometric had also agreed a test programme with a major manufacturer of couplings for marine and large industrial applications as well as being in detailed discussions to deploy its equipment to monitor critical machinery in the oil exploration and production sector.

A process to strengthen the firm’s technical sales team was also underway to facilitate growth in the new year.

RMS also ended the year with a cash balance of around £112,000.

Trevor Brown, chief executive of RMS, said the two businesses were “performing impressively” adding that the firm had been able to “deploy available resources towards investment in the most promising future projects”.

“Having spent the last year tuning the engine, your board plans to gently press the accelerator in 2019 and continue to seek further opportunities to enhance shareholder value."

In early trading Wednesday, RMS shares were down 14.3% at 0.75p.

--Adds share price--

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Wed, 09 Jan 2019 07:43:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/212208/remote-monitored-systems-subsidiaries-report-increased-sales-and-revenues-over-2018-212208.html
<![CDATA[RNS press release - Trading update ]]> https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20190109070001_13928120/ Wed, 09 Jan 2019 07:00:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20190109070001_13928120/ <![CDATA[News - Remote Monitored Systems' Geocurve subsidiary accepted into EU's KEEP+ funding programme ]]> https://www.proactiveinvestors.co.uk/companies/news/211944/remote-monitored-systems--geocurve-subsidiary-accepted-into-eu-s-keep-funding-programme-211944.html Remote Monitored Systems PLC (LON:RMS), the company that was formerly known as Strat Aero, has been successfully accepted into the EU's KEEP+ funding innovation programme.

The company’s specialist surveying and inspection business, Geocurve, will receive modest financial support from KEEP+ as it works with the University of Essex on “groundbreaking knowledge exchange, collaboration, contract research and innovation in the Virtual and Augmented Reality spaces (VR/AR)”.

READ: Remote Monitored Systems sees “spectacular turnaround” as it completes name change

Geocurve through this initiative expects to be able to develop and introduce significant new high-value products and services for both its current and future target clients, Remote Monitored Systems said.

Geocurve expects that by combining its specialist surveying, data processing, software development and problem-solving with University of Essex's VR/AR specialist skills and innovation, Geocurve will be able to expand its commercial services into hazardous environments like nuclear, construction, natural or man-made disaster services and in particular in confined spaces, within storage tanks, caissons and underground reservoirs.

In early morning trading, Remote Monitored Systems' shares were 10.7% higher at 0.775p.

 -- Adds share price --

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Fri, 04 Jan 2019 07:37:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/211944/remote-monitored-systems--geocurve-subsidiary-accepted-into-eu-s-keep-funding-programme-211944.html
<![CDATA[RNS press release - EU KEEP+ programme award ]]> https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20190104070003_13923558/ Fri, 04 Jan 2019 07:00:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20190104070003_13923558/ <![CDATA[News - Remote Monitored Systems sees “spectacular turnaround” as it completes name change ]]> https://www.proactiveinvestors.co.uk/companies/news/208635/remote-monitored-systems-sees-spectacular-turnaround-as-it-completes-name-change-208635.html The chairman of Remote Monitored Systems PLC (LON:RMS), Nigel Burton, has hailed a “spectacular turnaround” for the business as it changed its name from Strat Aero to accompany a refreshed strategy.

While the business originally focused on drone technology, RMS has now turned its gaze squarely on software that helps monitor rotating shafts such as those used in wind turbines.

“The name change is not an accident, it’s to signal that this is about remote monitoring,” Burton says.

The move followed the purchase of a controlling stake in GyroMetric, a firm that develops technology to digitally assesses rotating shafts, in September when the company, then Strat Aero, upped its stake to 57.8% from 36.9% for £273,600.

The move seems to be paying off, with Burton saying that in the first half of 2018 the firm has seen revenues increase 47% and operating losses fall by 72%.

“Through an [underlying earnings] EBITDA perspective [the company] has gone from a loss of half a million to a loss of £8,000 so we’re pretty well break-even now” he adds.

Geo and Gyro

The new strategy is down to RMS’s two subsidiaries, GyroMetric Systems, which provides rotating shaft monitoring software, and Geocurve, a specialist surveying business.

Geocurve has seen progress this year after it secured two new contracts in July.

The first was with hydraulic engineering group Hesselberg Hydro for an initial four months that has room for extension and additional services.

The second was to carry out a 3D survey of a large airstrip and associated infrastructure for US engineering giant AECOM.

Bright future

Going forward, Burton says that the firm is now able to focus on other clients now that it has more capacity.

“The demand is there” he adds, with Geocurve aiming to bring in a number of contracts.

“The question is have we got revenue and have we got customers? And that’s looking good on the Geocurve side”.

Regarding GyroMetric, Burton says the company has seen an “amazing” response to wind trials conducted by the subsidiary, with “a lot of excitement” around the product.

“All we have to do now is turn that into new revenue,” he says.

“Our plan is to underpromise and overdeliver”.

With shares trading at 1p, RMS carries a market cap of around £3.3mln.

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Tue, 06 Nov 2018 08:30:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/208635/remote-monitored-systems-sees-spectacular-turnaround-as-it-completes-name-change-208635.html
<![CDATA[RNS press release - Launch of new website ]]> https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20181101132512_13851782/ Thu, 01 Nov 2018 13:25:12 +0000 https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20181101132512_13851782/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20180928070002_13807879/ Fri, 28 Sep 2018 07:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20180928070002_13807879/ <![CDATA[Media files - Remote Monitored Systems plc chairman hails 'spectacular turnaround' ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/10462/remote-monitored-systems-plc-chairman-hails-spectacular-turnaround--10462.html Thu, 13 Sep 2018 11:44:00 +0100 https://www.proactiveinvestors.co.uk/companies/stocktube/10462/remote-monitored-systems-plc-chairman-hails-spectacular-turnaround--10462.html <![CDATA[RNS press release - Half Yearly Report to 30 June 2018 ]]> https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20180913070007_13788898/ Thu, 13 Sep 2018 07:00:07 +0100 https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20180913070007_13788898/ <![CDATA[News - Strat Aero announces name change to Remote Monitored Systems ]]> https://www.proactiveinvestors.co.uk/companies/news/204754/strat-aero-announces-name-change-to-remote-monitored-systems-204754.html Strat Aero PLC (LON:AERO) has said it will change its name to Remote Monitoring Systems PLC to better reflect the current and future focus of the business.

The AIM-listed services provider for unmanned aerial vehicles (UAV) said the name change, which will also change its ticker symbol to RMS, will take effect starting September 13.

WATCH: Remote Monitored Systems chairman hails 'spectacular turnaround'

The move follows the company’s purchase of a controlling stake in GyroMetric, a firm that develops technology to digitally assesses rotating shafts, earlier this month when it upped its share to 57.8% from 36.9% for £273,600.

Shares were steady at 1.1p in late-afternoon trading.

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Wed, 12 Sep 2018 15:12:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/204754/strat-aero-announces-name-change-to-remote-monitored-systems-204754.html
<![CDATA[RNS press release - Change of name to Remote Monitored Systems plc ]]> https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20180912145229_13788522/ Wed, 12 Sep 2018 14:52:29 +0100 https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20180912145229_13788522/ <![CDATA[News - Strat Aero completes acquisition of controlling stake in GyroMetric ]]> https://www.proactiveinvestors.co.uk/companies/news/204040/strat-aero-completes-acquisition-of-controlling-stake-in-gyrometric-204040.html Strat Aero PLC (LON:AERO) has received shareholder approval to complete its acquisition of the controlling stake in GyroMetric from Braveheart Investment Group PLC.

The AIM-listed services provider for unmanned aerial vehicles (UAV) said the transaction, originally announced on 21 August, would take its stake in GyroMetric to 57.8% from 36.9% through the purchase of 228,000 shares for £273,600.

READ: Strat Aero takes control of monitoring​​ firm GyroMetric

GyroMetric has technology that digitally assesses rotating shafts and, for Strat Aero, the deal is part of its strategy to move into areas that revolutionise monitoring and inspection.

Braveheart will still maintain a 19.9% stake in GyroMetric as a result of the transaction, while also holding a 7.2% stake in Strat Aero.

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Mon, 03 Sep 2018 08:28:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/204040/strat-aero-completes-acquisition-of-controlling-stake-in-gyrometric-204040.html
<![CDATA[RNS press release - Completion of Acquisition of interest- GyroMetric ]]> https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20180903070008_13775619/ Mon, 03 Sep 2018 07:00:08 +0100 https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20180903070008_13775619/ <![CDATA[News - Strat Aero takes control of monitoring firm GyroMetric ]]> https://www.proactiveinvestors.co.uk/companies/news/203274/strat-aero-takes-control-of-monitoring-firm-gyrometric-203274.html Strat Aero PLC (LON:AERO) and Braveheart Investment Group (LON:BRH) have brokered a deal that will see the former take control GyroMetric Systems Limited.

GyroMetric has technology that digitally assesses rotating shafts and, for Strat Aero, the deal is part of its strategy to move into areas that revolutionise monitoring and inspection.

READ: Strat Aero flies higher on two new contract wins for Geocurve subsidiary

The nuts and bolts of the transaction are as follows: Strat Aero is acquiring 228,000 GyroMetric shares for £273,600 in a purchase funded by the issue of the new paper.

This will take its holding in GyroMetric to 57.8% from 36.9%.

Braveheart will be left with 19.9% of GyroMetric and a 7.2% stake in Strat Aero.

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Tue, 21 Aug 2018 07:33:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/203274/strat-aero-takes-control-of-monitoring-firm-gyrometric-203274.html
<![CDATA[RNS press release - Acquisition of controlling interest in GyroMetric ]]> https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20180821070005_13762114/ Tue, 21 Aug 2018 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20180821070005_13762114/ <![CDATA[News - Strat Aero flies higher on two new contract wins for Geocurve subsidiary ]]> https://www.proactiveinvestors.co.uk/companies/news/200845/strat-aero-flies-higher-on-two-new-contract-wins-for-geocurve-subsidiary-200845.html Strat Aero PLC (LON:AERO) flew higher on Monday morning after announcing two new contracts wins for its Geocurve subsidiary.

Geocurve, a specialist surveying company, has been awarded an initial contract with hydraulic engineering group Hesselberg Hydro.

The contract is for an initial four months although there is the potential for it to be extended and additional services added further down the line.

READ: Strat Aero optimistic about 'strong new business prospects'

Geocurve is also carrying out a 3D survey of a large airstrip and associated infrastructure for US engineering giant AECOM. Strat Aero said it is hopeful that this initial project will lead to further and “more substantial” contracts in the future.

Gary Nel, managing director of Geocurve, said: “We are delighted to have been awarded this contract and are keen to build on this first survey with the new Leica Pegasus: Two scanners outside the TEAM2100 Thames project.

“We will be looking to secure many more of these types of surveys for AECOM.”

Strat Aero also revealed that Geocurve has developed a virtual reality suite in conjunction with Essex University.

With this resource, using UAV captured imagery, 3D models can be developed by geo-referencing and by stitching together many high-resolution images; a technique which has widespread potential usage in environmental and industrial applications.

Geocurve has already used this VR technology with a commercial client, with the results “significantly exceeding expectations”.

Strat Aero shares are up 6.5% to 1.22p on Monday morning.

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Mon, 16 Jul 2018 09:53:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/200845/strat-aero-flies-higher-on-two-new-contract-wins-for-geocurve-subsidiary-200845.html
<![CDATA[RNS press release - Geocurve business update ]]> https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20180716073121_13718595/ Mon, 16 Jul 2018 07:31:21 +0100 https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20180716073121_13718595/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20180706090544_13708446/ Fri, 06 Jul 2018 09:05:44 +0100 https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20180706090544_13708446/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20180706090040_13708442/ Fri, 06 Jul 2018 09:00:40 +0100 https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20180706090040_13708442/ <![CDATA[RNS press release - Result of AGM and TVR ]]> https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20180629123716_13699650/ Fri, 29 Jun 2018 12:37:16 +0100 https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20180629123716_13699650/ <![CDATA[News - Strat Aero is optimistic about ‘strong new business prospects’ ]]> https://www.proactiveinvestors.co.uk/companies/news/199846/strat-aero-is-optimistic-about-strong-new-business-prospects-199846.html Strat Aero PLC (LON:AERO) has announced that strong new business prospects at Geocurve Limited and Gyrometric Systems Limited allow the board to look forward to the future with optimism.

The AIM-listed firm said its principal subsidiary Geocurve is making excellent progress towards delivering the first phase of the multi-sensor surveying and data delivery programme.

READ: Strat Aero in optimistic mood after reboot

As part of the Environment Agency's Thames Estuary Asset Management 2100 programme, it combines innovative technology-based surveying with 3D mapping and Virtual Reality (VR) data representation. 

In a statement to be delivered at today's annual general meeting Nigel Burton, the chairman of Strat Aero said Gyrometric Systems Limited has recently completed a very successful trial at the ORE (Offshore Renewable Energy) Catapult centre.

The trial was completed using its monitoring technology to collect data which can be used to improve operating efficiency, reduce maintenance and increase output of wind turbines.

The commercial application of this technology to existing and new wind turbines is now the main focus of this business.

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Fri, 29 Jun 2018 07:42:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/199846/strat-aero-is-optimistic-about-strong-new-business-prospects-199846.html
<![CDATA[RNS press release - AGM Statement ]]> https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20180629070002_13698375/ Fri, 29 Jun 2018 07:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20180629070002_13698375/ <![CDATA[News - Strat Aero now a lot more grounded ]]> https://www.proactiveinvestors.co.uk/companies/news/198537/strat-aero-now-a-lot-more-grounded-198537.html There was a time when Strat Aero PLC (LON:AERO) was routinely referred to by journalists as a “drone” company but times have changed.

The company still uses drone technology but these days, the bulk of its “survey and inspection” activities are carried out by some land-based high-tech kit it imported into the country.

WATCH: Strat Aero PLC draws a line under the past and upbeat about its prospects

Time was when the company was routinely referred to by journalists (albeit maybe not in print) as a basket case but as we’ve said, times have changed.

The company has a “restructured and reinvigorated board” comprised of directors who are all significant shareholders in the company.

A company that was once severely under-capitalised and bleeding cash now has a decent amount of cash - £550,000 in early June 2018 – and the fixed costs have been substantially reduced.

In the words of the company chairman, Nigel Burton, it should no longer need to raise cash “to keep the lights on”.

“The board strongly believes that funds raised from our shareholders should be utilised for investment wherever possible rather than to finance a gap between income and expenditure,” the company said in its full-year results statement covering 2017.

Happily, the gap between income and expenditure is narrowing as management presses down on costs and income from its two main assets heads higher.

2017 was about getting a grip on costs; 2018 will be about growth​

The group recorded revenues of US$1.01mln during 2017, up from US$862,988 in 2016, generating a gross profit of US$896,548, up from US$593,079 the year before.

Administrative costs in 2017 were reduced from 2016, with the majority of savings made by cutting staff and consultancy costs in non-value-added business areas, Strat Aero said.

“We reviewed the costs; we reviewed the business and made some really quite significant cost-cutting changes,” Burton told Proactive Investors.

“We shut down the training business, which although it had a lot of potential, it was going to take far too much time and too much money for us to continue investing in that,” Burton added.

That left the company’s focus on the Geocurve high-tech surveying business, although that was subsequently augmented by an investment in Gyrometric.

Twin propellers: Geocurve and Gyrometric

Strat Aero's Geocurve subsidiary is a specialist surveying business that combines traditional survey techniques with innovative technologies including unmanned aircraft systems (UAS) or unmanned aerial vehicles (UAVs), geographic information system (GIS) databases, 3D modelling, laser and light detection and ranging (Lidar) scanning and hydrographic modelling.

The company says that the use of new technologies delivers high-efficiency data capture, improved operational safety and significant cost savings, across industrial and governmental sectors.

The shift away from using drones has also increased the barrier to entry into Strat Aero’s market. While the typical top-quality drone might cost £10k or £20k, the land-based kit Strat Aero has invested in costs half a million or so.

“It’s not just the money, it’s knowing how to use it,” Burton explained, referring to the data analysis that follows on from the data capture process.

In April, Strat Aero acquired a 37% stake in Gyrometric Systems for roughly £250,000.

READ: Strat Aero invests £0.25mln in rotating shaft monitoring company

Gyrometric had developed a unique system for reliably collecting, analysing and monitoring digital data from rotating shafts over a wide range of speeds and shaft sizes.

It measures in real-time how far off-centre the shaft is, which can make a really dramatic difference to efficiency.

The technology uses proprietary software and artificial intelligence techniques to analyse performance and to diagnose and predict drive system maintenance needs, reporting to commercial operators through a cloud-based internet of things platform.

“The equipment can pay for itself in a day,” Burton reckons, while conceding that, as with any new technology, people are reluctant to put it into a production environment until a decent amount of testing has been done.

Burton reckons there is a good chance of the Gyrometric business winning some “real contracts” this year.

Management has committed to developing the investment in Gyrometric through close operational support and involvement and believes it will be an important component of growth and shareholder value in the months and years ahead.

“There’s definitely room for organic growth and that’s what we’re concentrating on but because it’s a fragmented market, there’s definitely lots of opportunity for … aggregating the sector,” Burton believes.

Burton, as an engineer himself, is acutely conscious of the propensity of engineers to get carried away with what the technology can do; the policy of the reborn Strat Aero will be to listen to what the customer wants and respond accordingly.  

 

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Fri, 08 Jun 2018 13:06:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/198537/strat-aero-now-a-lot-more-grounded-198537.html
<![CDATA[Media files - Strat Aero PLC draws a line under the past and upbeat about its prospects ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/9495/strat-aero-plc-draws-a-line-under-the-past-and-upbeat-about-its-prospects-9495.html Thu, 07 Jun 2018 13:38:00 +0100 https://www.proactiveinvestors.co.uk/companies/stocktube/9495/strat-aero-plc-draws-a-line-under-the-past-and-upbeat-about-its-prospects-9495.html <![CDATA[News - Strat Aero in optimistic mood after reboot ]]> https://www.proactiveinvestors.co.uk/companies/news/198375/strat-aero-in-optimistic-mood-after-reboot-198375.html Rebooted Strat Aero PLC (LON:AERO) is upbeat about its prospects now that the new management has got a grip on the company's costs.

Fixed costs have now been substantially reduced from those prevailing in 2017, and income at Geocurve, its survey & inspection services business, and Gyrometric, where it has a 37% stake, is on an upward trajectory, the company said in its full-year results statement.

WATCH: Strat Aero PLC draws a line under the past and upbeat about its prospects

The group recorded revenues of US$1.01mln during 2017, up from US$862,988 in 2016, generating a gross profit of US$896,548, up from US$593,079 the year before.

Administrative costs in 2017 were reduced from 2016, with the majority of savings made by cutting staff and consultancy costs in non-value-added business areas, Strat Aero said.

Administration expenses were reduced to US$3.52mln from US$4.19mln the year before, contributing to a loss before tax of US$2.94mln, compared to US$3.64mln the year before.

Cash balances at the year-end amounted to US$668,183 (2016: US$3,918). Cash balances in early June were roughly £550,000 (US$730,000).

“Geocurve's focus on, and continued success in, providing survey and inspection services using a diverse range of technologies including UAVs [unmanned aerial vehicles, or drones], as well as ground- and water-based survey equipment, puts it in a strong position entering 2018 as it continues its focus on long-term high value blue chip clients,” the company said.

“Geocurve's differentiated capabilities in the survey industry deliver exactly the analysis that its clients require to maximise the productivity of their teams and minimise asset downtime,” it added.

The board continues to examine opportunities to grow both organically and through the acquisition of complementary businesses and technologies that can enhance growth in shareholder value, said Nigel Burton, non-executive chairman of Strat Aero.

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Wed, 06 Jun 2018 13:13:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/198375/strat-aero-in-optimistic-mood-after-reboot-198375.html
<![CDATA[RNS press release - Final Results for the Year to 31 December 2017 ]]> https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20180606120052_13669418/ Wed, 06 Jun 2018 12:00:52 +0100 https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20180606120052_13669418/ <![CDATA[RNS press release - Notice of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20180606120009_13669415/ Wed, 06 Jun 2018 12:00:09 +0100 https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20180606120009_13669415/ <![CDATA[RNS press release - Exercise of warrants ]]> https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20180605070008_13666593/ Tue, 05 Jun 2018 07:00:08 +0100 https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20180605070008_13666593/ <![CDATA[RNS press release - Grant of Employee Options ]]> https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20180501151459_13626150/ Tue, 01 May 2018 15:14:59 +0100 https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20180501151459_13626150/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20180430070006_13622683/ Mon, 30 Apr 2018 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20180430070006_13622683/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20180426080005_13619482/ Thu, 26 Apr 2018 08:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20180426080005_13619482/ <![CDATA[RNS press release - Exercise of warrants by Directors and TVR ]]> https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20180423070008_13613691/ Mon, 23 Apr 2018 07:00:08 +0100 https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20180423070008_13613691/ <![CDATA[News - Strat Aero invests £0.25mln in rotating shaft monitoring company ]]> https://www.proactiveinvestors.co.uk/companies/news/194534/strat-aero-invests-025mln-in-rotating-shaft-monitoring-company-194534.html Strat Aero PLC (LON:AERO) said it has invested £0.25mln to acquire 37% of rotating shaft data monitor Gyrometric Systems Limited.

The AIM-listed aerial reconnaissance specialist said Gyrometric had developed a unique system for reliably collecting, analysing and monitoring digital data from rotating shafts over a wide range of speeds and shaft sizes.

READ: Strat Aero subsidiary chosen as leading supplier for Aerial Survey and Inspection by Aviva

The group added that the technology uses proprietary software and artificial intelligence techniques to analyse performance and to diagnose and predict drive system maintenance needs, reporting to commercial operators through a cloud-based internet of things platform.

Strat Aero also said that following the investment, the group would still retain sufficient cash resources to fund its operations beyond the end of this calendar year given the combination of significantly reduced corporate costs and the outlook for its surveying and inspection business.

The announcement followed good news for Strat Aero’s subsidiary Geocurve Limited last Friday, when it was chosen as a leading supplier for Aerial Survey and Inspection by insurance giant Aviva PLC (LON:AV.).

Strat Aero shares were down 4.1% at 0.06p in late-afternoon trading Monday.

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Mon, 09 Apr 2018 14:47:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/194534/strat-aero-invests-025mln-in-rotating-shaft-monitoring-company-194534.html
<![CDATA[RNS press release - Investment in Gyrometric Systems ]]> https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20180409141549_13597218/ Mon, 09 Apr 2018 14:15:49 +0100 https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20180409141549_13597218/ <![CDATA[News - Strat Aero subsidiary chosen as leading supplier for Aerial Survey and Inspection by Aviva ]]> https://www.proactiveinvestors.co.uk/companies/news/194446/strat-aero-subsidiary-chosen-as-leading-supplier-for-aerial-survey-and-inspection-by-aviva-194446.html Strat Aero PLC (LON:AERO) said its wholly owned subsidiary, Geocurve Limited, has been chosen as a leading supplier for Aerial Survey and Inspection by insurance giant Aviva PLC (LON:AV.).

The AIM-listed aerial reconnaissance specialist said while the development was a positive one for the company, it would update the market on any revenue implications for the company as they became clearer in due course.

READ: Strat Aero making rapid progress on cost-cutting

The news follows a previous contract win in February, where Geocurve secured a £1.1mln contract to provide a 3D and virtual reality (VR) survey service for the Environment Agency's Thames Estuary Asset Management 2100 programme. 

Strat Aero shares were up 33.3% to 0.06p in late-afternoon trading Friday.

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Fri, 06 Apr 2018 15:31:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/194446/strat-aero-subsidiary-chosen-as-leading-supplier-for-aerial-survey-and-inspection-by-aviva-194446.html
<![CDATA[RNS press release - Update on Geocurve ]]> https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20180406150610_13595603/ Fri, 06 Apr 2018 15:06:10 +0100 https://www.proactiveinvestors.co.uk/companies/rns/13081/LSE20180406150610_13595603/ <![CDATA[News - Strat Aero making rapid progress on cost-cutting ]]> https://www.proactiveinvestors.co.uk/companies/news/193609/strat-aero-making-rapid-progress-on-cost-cutting-193609.html Aerial reconnaissance specialist Strat Aero PLC (LON:AERO) said it has made considerable and rapid progress in its cost reduction programme.

At the same time, management has been enhancing the performance and prospects of its main operating business, Geocurve.

Geocurve has now commenced its initial technology-based 3D and Virtual Reality survey service for the Environment Agency's Thames Estuary Asset Management 2100 (TEAM2100) programme and is in dialogue with other potential customers for similar services.

READ: Strat Aero lifted by £1.1mln Thames Estuary survey contract​

The group said it is also in advanced discussions concerning the acquisition of a substantial minority stake in a complementary technology business that has, in Strat Aero’s view, strong prospects for growth.

If the group pulls the trigger on the deal the purchase cost will be met from current cash resources.

 

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Thu, 22 Mar 2018 07:58:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/193609/strat-aero-making-rapid-progress-on-cost-cutting-193609.html