March 10, 2020 / 8:30 AM / 22 days ago

BRIEF-SRT Marine Systems Sees Reduction In FY Revenue Due To Likely Delay In Contracts Commencement

March 10 (Reuters) - SRT Marine Systems PLC:

* SRT MARINE SYSTEMS - TRADING UPDATE

* SRT MARINE SYSTEMS - IN RESPECT OF MIDDLE EAST SYSTEM CONTRACTS SIGNING AND COMMENCEMENT DATE WILL LIKELY BE DELAYED

* SRT MARINE SYSTEMS PLC - REASON PROVIDED BY CUSTOMERS FOR DELAYS ARE RELATED TO THEIR GOVERNMENTS’ RESPONSE TO CORONAVIRUS

* SRT MARINE SYSTEMS - BECAUSE OF EXPECTED DELAY, FIRST MILESTONES NOW EXPECTED TO BE COMPLETED, THEIR ASSOCIATED REVENUE RECOGNISED IN NEXT FY

* SRT MARINE SYSTEMS - IN CURRENT FY, TO REDUCE EXPECTED YEAR END REVENUES TO £17.5M WITH AN EXPECTED LOSS BEFORE TAX OF ABOUT £3.8M Source text for Eikon: Further company coverage:

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