SRT Marine Systems PLC (LSE:SRT) has penned a new US$9 million (£7.2 million) contract in the Middle East.
SRT, which provides maritime domain awareness, security and environmental systems, noted on Friday that the contract, unveiled in November, had been signed and was now being implemented.
This would run for ten years and was with an existing Middle East coast guard customer, the AIM-listed company added.
“We are delighted to have commenced this system upgrade with this long-standing and highly valued coast guard customer,” chief executive Simon Tucker said.
“[We] look forward to many more years of business with them as they grow and enhance their national maritime surveillance and intelligence capabilities.”
Shares gained 2.1% on Friday, having surged by 43.0% to 42.9p over the past six months.