Srt Marine Systems Share Discussion Threads

[hjb1] 02/2/2017 12:45

eagle, you were going well until you said the £12m by end of March.I think I've cracked a rib falling off my chair laughing!And no I have a very modest amount in here now so no probs there, not stressed just fed up that once again at this point we are at the very same position we seem to have been for year after year.

[hjb1] 02/2/2017 12:39

I certainly expect an RNS stating that first phase has been a success and they are moving into the next phase as it's material imv.As we have not had this news then I take it that we are still in phase one, which is still very much the talking about it part.
Until we get some news that they have moved into phase two then this contract is still risky and could well be cancelled like others have been before.just my opinion of course.

[eagle eye] 02/2/2017 12:30

hjb1,
I'm sure you aren't the only person frustrated by the lack of newsflow, but its worth remembering that SRT has come a long way over the past 2 years.
The big opportunity then was the US mandate (and what happened to that) plus moving AIS boxes through third party distributors.
Fortunately management figured out that national mandates were a big opportunity in their own right. I think the game changer was GeoVS which solved the problem of integration and display, while moving up the value chain.
Bahrain was installed and has been a great showcase for SRT. Read across Panama Canal. Credit where it's due, SRT has appears to have positioned itself well in a fast growing industry.
In hindsight, paying 40p six years ago was a big leap of faith. The opportunity cost over the that time has been very expensive, but the business has evolved and is in far better shape now.
Maybe your portfolio has an overweight position in SRT, which is out of kilter and is causing stress. I'm sure you aren't the only person with this issue.
Hopefully SRT can muster up £12m by end of March and then we can all go back to sleep again LOL.

[the prophet] 02/2/2017 12:24

hjb

I think it is wrong to say:

'The Indo deal will ONLY continue if first phase is passed...atm it isn't so deal up in the air,'

Unless you know that the first phase has not been passed?
My understanding is that these contracts just roll on, yes, there are building blocks to be put in before the next bit can be done, the same as in any contract. But I don't expect SRT to give us a running commentary of exactly where they are at.I expect them to release news once a 'deliverable' has been delivered and comment at that point as to how everything is going.

[hjb1] 02/2/2017 11:46

hey yumpy, suppose you believe in fairies too? you certainly fell for the "conveyor belt" line, amongst all the other stuff..lol.The Indo deal will ONLY continue if first phase is passed...atm it isn't so deal up in the air, might not be a second or third phase for all we know, don't forget all the other govt deals that have been on the cards for how many years now, and many totally cancelled, so chickens, counting and hatch spring to mind.I will believe it when the money is banked and not before.

[yump] 02/2/2017 11:14

Bad education system evidence again this morning, with the guff about 'Reality' from hjb1.

The REALITY is that there WAS lots of promise and no decent contracts and now there has been a very large contract announced.

The reality in someone's head doesn't necessarily match that.

fwiw people were losing faith below 40p in October and again twice in November. There is absolutely no way of knowing whether anyone is losing faith more now than then.

Personally I have a lot more faith now at 40p with a big contract, than at 20p with not much happening.

Then again Aliens might land tommorrow - if they are not already here and issuing executive orders willy-nilly.

[the prophet] 02/2/2017 10:50

fft

hear what you are saying.
fwiw, I have spoken with SRT on this aspect a while ago and they said that the different phases is the same in all projects, it's just this one is a lot bigger. They also said all projects are dependant on the previous bit/phase being succesfully executed.
But I do take on board what you are saying, it's not unreasonable for investors to want more of an update, given the size of the project and the current almost total dependency on it, least for near term figures. From SRT's point of view, I think there is a desire not to say anything until there is something worthwhile to say, I can understand that as well.
I'm going with no news is good news in that any untoward changes would have to be reported immediately.

[fft] 02/2/2017 10:44

TP,They haven't announced different phases of projects before, but afaik, this project is 10 times larger than any other project carried out before, which imho justifies a bit more of an update, especially when it was SRT that explicitly divided the project into 3 phases. Each phase being dependant on a successful completion of the previous phase.

[the prophet] 02/2/2017 10:39

Well, we've all got a free choice, the lovely thing about the stockmarket is we are all free to buy or sell and no-one forces us to hold.

[hjb1] 02/2/2017 10:36

alter, some call it negative, most call it reality.They have not delivered to the hype have they, it's not my fault is it? The share price was at 40p over 6 years ago.If you want to keep believing the hype and year after year failure then fair enough,some don't fall for it.

[alter ego] 02/2/2017 10:29

I think we need to be aware that sometimes, people who rubbish a company on a message board are just be "talking their own book" and looking to help the price in the direction they want it to go. Whether or not this tactic has any useful effect is doubtful but for me, the acid test is whether or not that person believes what they say and sells their holding. Maybe, they have "a few coppers waiting for the bad news and usual share price collapse"

I wouldn't give their negative opinion much respect or bother to debate it if that were the case.

[the prophet] 02/2/2017 10:19

ps, charts looks on the cusp, not sure if it's a great buy point or on the edge of a cliff!

[the prophet] 02/2/2017 10:18

hjb
I don't think that is correct or fair. I don't think SRT have ever made 'toys'. Look at the Identifier, they have more or less created a new market. Look at the order book, £70m, and the vsp, £200m.
Where they have a problem is in meeting investors expectations, always a tricky one and made more tricky by SRT being very open and investor friendly (usually, hjb!).
Ok, yes, they have been over optimistic at times, the £10m run rate being one of several examples.But, on the other hand, the products and offering have evolved way beyond what any of us would have thought a few years ago.
But bottom line for investors is the bottom line and SRT need to produce a few sets of decent accounts to match the rest of this high quality story. imo. I think they will.

[the prophet] 02/2/2017 10:12

SRT have said they wil deliver significant deliverables this year, so until I hear anything to the contrary, I'm going with that.
imo, they won't announce they are on phase2, I don't think they ever have done that on other projects? My understanding is they are already on phase2, working through a section of that, each section is a 'deliverable'.
But I can well understand hedging your bets and dropping a few to see what happens.

[hjb1] 02/2/2017 10:11

the problem is they make great "toys", just no good at selling them!Tucker reckoned the run rate alone will be £10m per year, without any project/mandates...that was what 5 years ago ..or more even?

[eagle eye] 02/2/2017 09:48

hjb1,
I think the current issue is weakness of the business model (eg large orders that don't have any concern for financial year ends) rather than management. Any major announcement now and the shares are off to the races. Meanwhile its drip, drip, drip which is frustrating, but the nature of the game.
The key point here is good money management which isn't an SRT problem, but what sits between the ears problem.
Maybe best to not have any forecast at all, but then many institutions won't invest without a forecast. Hey ho as they day.

[hjb1] 02/2/2017 09:10

fft, looks there are a few that are getting nervous and selling, not surprising I suppose given the total lack of news, the silence is deafening.If they miss forecast big time yet again then surely the management needs to be looked at doesn't it? Is Tucker still alive?

[fft] 02/2/2017 01:12

The problem is that this FY we were all expecting a smoother revenue flow, with more contracts to even things out.

If it badly misses on the underside, credibility of SRT management will go back to the stage a few years ago and there will be a complete lack of trust in any future statements. This will play havoc with the share price.

Indonesia is making me nervous. It is an explicit 3 stage project. When stage 2 starts I expect an RNS (or news on the SRT website) saying it has started. So far there has been nothing. With a lot of revenue from stage 1 booked in the last FY (to get that over the line) I am not sure what is left from stage 1 to put into this year. There is no reason why SRT cannot release an RNS saying stage 2 has started. The scope of the project was laid out in the original release.

[yump] 01/2/2017 18:31

Unfortunately many investors can't cope without a continuous supply of small rabbits. I blame the education system with all those continuous stars and special points they give out for pupils doing very little.

If we all concentrate hard, I'm sure we can remember that there is a genetically modified monster rabbit that we were told about. Its just a bit shy despite its size.

Anyway, could be caught off guard at any time. We were all looking at the magicians hat in hope at 20p and then the rabbit snuck up behind everyone as it couldn't fit in the hat.

I think that's enough rabbiting.

[hjb1] 01/2/2017 16:50

yes there has been some support at around the 39/40p mark.Not sure if will hold 30p though if revenue is as bad as it might be, could be well under £7/8 million.Not sure if there are any more rabbits left.

[the prophet] 01/2/2017 16:30

Well, a few folks are selling out, but there again there has been buyer(s) at these sort of levels, in size. So someone is convinced, or maybe they are just happy to accumulate come what may.
Sp has been reasonably resilient, famous last words....guess a move to mid thirties may indicate the chart breaking down, not that I know too much about chart stuff.

[hjb1] 01/2/2017 16:18

another "squeeze" year coming up.Having said that got a few coppers waiting for the bad news and usual share price collapse.Looks like it might be starting already?

[the prophet] 01/2/2017 16:05

hjb
It's making me smile a bit as well! Too true, I keep thinking that next year will be a breeze and, so far, instead it's been a bit of a squeeze! Last year needed a dollop from Indonesia to make the numbers. This year....I dunno. if you take the LaV point of view, he would prefer it if a large deliverable slipped into 17/18, thus giving that year a bumper start. I can appreciate that view, but would still prefer it if they delivered on this years numbers.
We will see.

[hjb1] 01/2/2017 16:01

TP, it does make me smile to think how many years you have been saying the same thing at this time of year.I do find the total silence a tad concerning though,as I say not even a webcast, and for the first time ever he has stopped replying to my emails, which as we know is a bit unusual..hmmmm!?

[the prophet] 01/2/2017 15:52

just a question of those 'deliverables' being delivered. Least we have the order, that's an advance on previous years, but, must admit, would be nice to make the numbers without all the last minute stuff. Still 2 months to go in this f/y though.....