SRJ Reports 81% Jump in Quarterly Cash Receipts Amid Strategic Market Push

Leadership and Strategic Reset

SRJ Technologies Group Plc has marked a pivotal quarter with the appointment of Kurt Reeves as Chief Executive Officer in May 2025, following George Gourlay’s elevation to Chair late last year. This leadership duo has driven a comprehensive business review, culminating in a targeted strategy to establish a strong foothold in the Middle East and other rapidly expanding markets. The company has initiated restructuring efforts, including workforce realignment and relocating operations to the UAE, aiming to optimize costs and enhance client engagement.

Financial Momentum and Market Expansion

The company’s financial performance reflects the success of these strategic moves, with cash receipts soaring by 81% quarter-on-quarter to £597,000 (A$1,245,000). This surge underscores growing demand for SRJ’s asset integrity and inspection services, particularly through its subsidiary Air Control Entech (ACE). ACE has solidified its presence in the Middle East by incorporating in the UAE and securing necessary trade licenses, positioning itself to deliver class-approved robotic inspection solutions across the region.

Contract Wins and Technology Validation

SRJ’s commercial momentum is further evidenced by multiple contract wins. ACE secured a ballast tank inspection contract with SBM Offshore, expanding its footprint in South America following successful mobilization in Guyana. Additionally, ACE is advancing discussions to extend its inspection campaign with Energean Israel Limited. Meanwhile, SRJ’s proprietary BoltEx clamp technology passed a critical field trial with ARAMCO in Saudi Arabia, demonstrating robust performance and opening doors for sales and rentals across the Middle East and beyond, including Kuwait, West Africa, Australasia, Eurasia, and the US.

Capital Raising and Financial Health

To underpin its growth initiatives, SRJ completed an equity placement raising A$357,000 (£171,000) in July and announced an entitlement offer launching in August 2025. The company’s cash outflows from operating activities have decreased significantly by 77% compared to the previous quarter, reflecting improved operational efficiency. With cash and available financing facilities totaling £438,000, SRJ estimates it has sufficient funding to support operations for over five quarters, providing a solid runway for executing its strategic plans.

Outlook and Strategic Priorities

SRJ’s focus on the Middle East is clear, leveraging local incorporation, strategic hires, and technology validation to capture market share in a region hungry for advanced asset integrity solutions. The company’s balanced approach; combining innovative robotic inspection technologies with expert consulting services; positions it well to meet evolving regulatory demands and asset life extension challenges globally. However, the success of restructuring efforts and the upcoming entitlement offer will be critical to sustaining this positive trajectory.