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Strat Aero making rapid progress on cost-cutting

The board and corporate costs have both been materially reduced with the training division and the US operations now closed
Drone
Strat Aero is mulling taking a stake in complementary an innovative technology business with strong prospects for growth

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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