Software Radio Technology PLC (LON:SRT) chief executive Simon Tucker highlighted a “landmark year” for the company, which provides communications and navigation systems for the shipping industry.
The vessel tracking firm this morning reported a 25% rise in year on year revenue in the 12 months to March 31, 2016.
It reported a £300,000 pre-tax profit on annual revenue of £10.68mln, up from £8.52mln in the prior year.
The contracted order book amounts to around £70mln, according to the company, and it sees a validated pipeline of sales opportunities in excess of £200mln.
In the past year, the company noted the completion of a maritime domain management system order in the Middle East as a key highlight.
"This has been a landmark year for SRT,” Tucker said.
“We have won and delivered a national MDM system in the Middle East, signed a major contract worth £70 million and made significant progress with many other pending project and market opportunities.
“Despite delivering 25% revenue growth and increasing our sales and customer support activities to support expected new contracts, we maintained our cash overheads at the same level as the previous year.
“SRT enters the new financial year with a significant future order book and an even larger pipeline of validated sales opportunities."