SRT in the News

19th July 2010 - The Independent

SRT has ridden the wave of the recession and is now set fair for growth

Software Radio Technology (SRT), the alternative Investment Market (Aim)-listed group that produces radio-communications devices, had, even by the standards of the time, a woeful 2009.
Its managing director, Simon Tucker, who bought into the group after over-hearing a conversation on a train, had plenty of good ideas of how to deal with the doom that was the financial crisis, especially in terms of freeing up entrepreneurs such as himself to get on with running businesses.
Sadly, at times his words seemed somewhat hollow when his own company’s share price was falling through the floor: the stock sank as low as 2p a share in April 2008, having hit the dizzy heights of 54.5p in the third quarter of 2007.
One of the products available from SRT is marine radios, and taking the convenient cue, Mr Tucker managed to ride out the rough seas of last year, and 12 months on, life is getting much rosier
Over the past few weeks, SRT has penned a number of deals, cumulating last week in a flurry of new orders for its AIS products – which are used in navigation and homeland-security identification and tracking applications – adding $2.1m (£1.4m) to the order book. Last month, the company said that its forward order book was $4m (£2.6m), with the AIS order increasing the backlog by 40 per cent to $5.7m (£3.7m).
“We continue to work hard to support our customers through the continued development of new technologies and products as well as reliable delivery and support,” said Mr Tucker. “These orders reflect the rapidly growing global AIS market. We are working with our customers to maximise the opportunities their respective sales channels offer.”
And of course, all this means that investors have returned to the group in their waves (no pun intended). SRT’s shares have jumped 826 per cent in the past year.
Many of the group’s orders come from emerging markets, and with the growing number of economists suggesting that the UK may be heading back into trouble thanks to the Government’s spending cuts, more Aim investors may increasingly start seeing SRT as a safe haven.