Wirral military small boat builder Marine Specialised Technology returns to profit on sales of almost £20m and sees an opportunity to capitalise on increased defence spending due to global instability. Tony McDonough reports
Wirral military small boat builder Marine Specialised Technology (MST) has returned to profit after delivering a challenging contract and sees significant global opportunities.
MST designs and manufactures high speed and rigid inflatable boats (RIBs), primarily for the military, special forces, coastguard and law enforcement sectors, exporting to multiple countries across the world.
In recent times it has secured contracts with the German and Japanese navies as well as multiple orders for its inflatable landing craft from NATO partners across Europe.
Now, with global instability increasing Governments across the world, particularly NATO members including the UK, are looking to increase spending on their defence capabilities and MST sees an opportunity to capitalise on that growing demand.
Writing in the company’s annual accounts for the 12 months to September 30, 2025, posted on Companies House, director Ben Kerfoot, who owns the business along with Philip Hilbert said MST is “well positioned to capitalise upon these opportunities”.
He added: “The underlying fundamentals of the business remain exceptionally strong. Demand for specialist military and security craft continues to increase, supported by heightened political tensions and significant increases in defence expenditure by NATO member states and allied governments.”
To date MST, which employs around 130 people and is based at a facility on the banks of the River Mersey at Bromborough, has delivered more than 600 craft into service with more than 50 Navy, Coast Guard and government organisations worldwide.
Revenues for the year rose almost 10% to £19.5m and pre-tax profits of £159,940 contrasted with pre-tax losses in the previous year of £622,284.
Explaining the turnaround in fortunes, Ben said: “Full year 2025 marked an important turning point for the group, with a return to profitability following the operational challenges experienced during the previous year.
“The principal factor affecting performance of the past two years has been the delivery of a major long-term defence contract awarded before the period of exceptional global inflation that followed the COVID-19 pandemic and the conflict in Ukraine.
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“As raw materials prices, labour costs and logistics costs increased significantly, margins on the fixed price elements of the programme were materially reduced.
“Despite these challenges the group successfully delivered all contractual obligations well continuing to invest in engineering capability, manufacturing capacity and new product development.”