26 November 2013 – interim report
Interim results from the developer and supplier of maritime identification and tracking technologies covering the six months to 30 September have shown a decline in revenue to £3.16m (2012: £3.48m), whilst the pre-tax loss rose to £0.43m (2012: £0.17m). The group had cash balances of £2.2m at the end of the period. Although the company has declared its confidence in its long term prospects, the short-term outlook remains more difficult to predict and we therefore downgrade to HOLD.