SRT Marine Systems – shares hit new peak, up 126% in last year, an indicator of further good news soon? Shares 93.50p, brokers TP 122p

Mark Watson-Mitchell - 07.01.2026

Yesterday, the shares of SRT Marine Systems (LON:SRT) reached a new High, closing at 95p, following a heavier-than-normal trading volume.

Regular readers will know by now just how keen I have been on this group’s shares, which have shown a clear 126% gain in the last year.

Is it just a reflection of the general market's good mood, or is it possibly in anticipation of some further good news to be announced by the provider of maritime surveillance, monitoring and management systems?

Its system applications include security, safety, search and rescue, law enforcement, fisheries management, illegal fishing detection and environment monitoring.

Now capitalised at some £239m, the Midsomer Norton-based group is continuing to build up its Order Book, encouraging investors, both professional and private, to carefully watch its progress.

Boss Simon Tucker is extremely efficient in presenting his company to investors, especially through his quarterly Corporate Online Presentations.

Considering the recent strength in the share price, perhaps we are very close to the company issuing its First Half Trading Update covering the six months to end-December.

The Business

SRT Marine Systems is a global company that develops and provides integrated maritime surveillance, monitoring, management, and safety systems used by coast guards, fishery authorities, infrastructure and vessel owners to manage and control their maritime domain.

Principally, it is engaged in the provision of maritime domain awareness (MDA) products and systems.

Its solutions integrate multiple technologies, advanced analytics, digital display systems, logistics and command and control to provide enhanced maritime surveillance, security, safety and management for national authorities such as coast guards and fishery authorities.

The company's applications include coastal and territorial water surveillance and security, fisheries monitoring, management and illegal, unlicensed, and unregulated (IUU) detection, search and rescue, waterway management and aquatic environmental monitoring as well as individual leisure and commercial boat owners.

Management Comment

Upon declaring the group’s Final Results to end-June 2025 towards the end of October last year, CEO Simon Tucker stated that:

“The marine domain is critically important in many ways to everyone.

And yet what goes on there is mostly unseen and remains a mystery.

SRT is working to solve this global issue with our integrated marine domain systems that deliver AI-driven insight and intelligence to stakeholders that range from sovereign states seeking territorial and border security to mariners focused on safer and efficient navigation.

Todays' results are indicative of the latent demand waking up to the availability of our systems and the valuable insight and intelligence they can access on demand.

I believe we are right at the start of this global adoption.”

Those results reported a 426% increase in revenues, reaching £78.0m for the year to end June 2025.

The company achieved a profit before tax and exceptional items of £4.9m.

System contracts totalled £325m, with a new system contract prospects pipeline valued at £1.8bn.

The unrestricted cash balance at year-end was £4.3m, increasing to £13.6m by 30th September 2025.

The company recognised a non-cash exceptional finance charge of £3.5m related to warrants granted for a performance bond.

Basic earnings per share were 0.85p.

The outstanding balance of loan notes amounted to £13.61m as of end-June 2025.

The Equity

There are some 249.9m shares in issue.

The larger holders include Ocean Infinity Group (15.15%), Hargreaves Lansdown Fund Managers (8.45%), Barclays Bank Private Banking (1.85%), Amati Global Investors (1.53%), Maven Capital Partners (1.51%), Rathbones Investment Management (1.44%), HSBC Global Asset Management (0.50%), Toscafund Asset Management (0.22%), IG Markets (0.21%) and iDealing.com (0.19%).

Broker’s View

Analysts Kimberley Carstens and Michael Hill, at Cavendish Capital Markets, rate the group’s shares positively, setting an increased Target Price of 122p (previously 100p).

For the year to end-June 2026 they go for revenues to rise to £115.8m (£78.0m), with adjusted pre-tax profits doubling to £10.2m (£5.2m), lifting earnings up to 4.1p (2.3p) per share.

For the coming year to end-June 2027 they look for £123.4m in sales, with £11.1m profits and 4.4p in earnings.

The analysts state that:

“SRT is a strategic partner to sovereign maritime agencies.

It has outcompeted global defence primes to provide maritime stakeholders (fisheries, coast guards, port & waterway authorities) with a single integrated AI-driven operating platform for multi-domain maritime surveillance operations.

Its sovereign partnership framework enables customers to build up system capacity in multiple follow-on contracts of various types over time.

The market-leading nature of its highly sophisticated platform, combined with first-mover advantage, is reflected in “good visibility” across £500m worth of contracts within its impressive £1.8bn validated sales pipeline.”

My View

After years of developing its systems, SRT is now ready to show its true potential.

Its shares are destined to rise significantly as that potential is revealed to the market generally.

There is a 28% possible gain if the broker’s Target Price is achieved – however, I consider that they are being cautious.

(Profile 14.09.20 @ 39.50p set a Target Price of 50p*)

(Profile 10.11.23 @ 39.75p set a Target Price of 60p*)

(Profile 25.04.24 @ 22p set a Target Price of 35p*)

(Profile 03.09.25 @ 80p set a two-year Target Price of 150p)