Srt Marine Systems Share Discussion Threads

[the prophet] 22/3/2017 10:09

hjb
Well, I've checked this with SRT hjb, you are welcome to check it yourself.
The reason is that the SEAsia order has already had a RNS with the full value of the order included in the RNS. Therefore there is no obligation , need or requirment to report as parts of this order are completed. Indeed, this is something that SRT do not wish to do as the project is politically sensitive and of national importance and the other partners do not wish SRT to provide a running commentrary on it. The other partners would be happy if SRT never mentioned it!
So the SEAsia project will be reported in the results under 'projects', but not broken out seperately and the revenue earned would be included in any total given in any TU.
I don't think they are waiting for anything to 'drop' as such, as any order now would be too late for this f/y. It could be they are part way through a phase in a project and the billing for that phase could fall this f/y or next. I say could be because I have absolutely no idea if that is the case or not.
I would agree that you have to report if you think you are going to be + or - 10% from forecasts, but as we've seen in the past, it could be early April till we are 'in the clear' on that front.
My view is that whilst I understand the reasons regarding secrecy over the SEAsia contract, the expected newsflow on other projects has, so far, not materialised and that is disappointing. They are all still there and from all accounts SRT are well placed to secure them. But it would seem to be the same old story of slippage, into next years budgets etc etc. Not much SRT can do about that, that is the business arena they are operating in.

[hjb1] 22/3/2017 09:53

obit, no it doesn't! they could still be waiting for something to drop as they won't have to say anything until first week of April when they defo miss.

[obiterdicta] 22/3/2017 09:49

hjb you only have to report if you are above or below management forecast. No report means on track. HTH OD

[hjb1] 22/3/2017 09:30

surely if it's "material" it has to be published whichever way you look at it? I mean if they had a £5/10/15m "deliverable" a month ago do you really believe they would not RNS it??

[the prophet] 22/3/2017 00:33

As the 'significant deliverable' won't have a RNS then we will only know if delivered by a trading update or the results.That is my clear understanding.

[hjb1] 21/3/2017 23:17

well he has got under 2 weeks to deliver a "significant deliverable"...odds/bets anyone??
It's what he isn't saying is the problem.

[jamesjjj] 21/3/2017 22:51

I can fully understand that a lack of news is making many twitchy but I think we should go by what we know as fact and not supposition. The facts that we know are what was told to us in the last trading statement:
" I
am pleased to report that during the Period we saw significant progress in a number of large VMS and MDM
projects that we expect will result in the completion of significant deliverables during the second half as well
as other projects moving towards contract phase from our validated sales opportunity pipeline. The nature of
these projects is that they are very lumpy with extended periods between deliverables and often change
unexpectedly in terms of timing and scale. However, we expect that SRT will soon have multiple projects
underway which we hope will provide a natural hedge in regards to revenue timings across our reporting
periods. Most of our projects are considered to be of national strategic importance and thus SRT is subject to
strict confidentiality which places significant restrictions on the details we can provide shareholders on the
status of these projects."
According to the statement as the deliverables are SIGNIFICANT I would expect to be told if there was a change as this would be considered a material change.
Otherwise I would expect to hear nothing as it is clearly stated that " SRT is subject to
strict confidentiality which places significant restrictions on the details we can provide shareholders on the
status of these projects".
Therefore in this case no news seems to mean good news. DYOR.

[alter ego] 21/3/2017 15:29

2vdm, last year we had a trading update on 12 April. Unless trading is materially below expectations, I expect a similarly timed update this year.

[loobrush] 21/3/2017 12:19

View from poster on LSE
Off Topic
Opinion: Strong Buy
Price: 31.375
Its a buy for me at this price.Today 12:17I think that a lot of selling is end of tax year selling. The share price is down 50% from its high and the company is entering the second phase of their large contract which will generate much higher revenues that the first phase and then comes the big final phase in a years time. Also they still have a very large amount in the pipeline.
With no news on these further contracts for quite a long time one could easily drop in in the coming weeks/months which would spring the share price into life. So for me now is the time to get in before these events occur.

[2vdm] 21/3/2017 12:10

Please can someone remind me when we may expect news?

[barrieb] 20/3/2017 19:43

TP. I am not saying anything has changed but as we all know especially with smaller companies generally that is something that is put off until they are forced to and that is usually results time when they have to explain away delays that never seem to re-appear. Not saying that SRT would do that though as I currently have confidence in the BOD but perhaps you should not rely wholeheartedly on your above statement.

[the prophet] 20/3/2017 18:55

barrieb

if there were any material changes to the contract they would have to announce that immediately.

[barrieb] 20/3/2017 18:51

Ok, now I have seen that I am probably wrong. However, if they are busting a gut to deliver various orders / stages by the end of March they would not want to shout about it until it has been achieved. In the real world these things can go right to the line!

Well they keep saying how busy they are and were very confident on deliverables and as they have been over confident in the past I am sure they will not want to look like even bigger wallies this time round.

So I am still going for a positive outcome.

NB. This is all providing the contract is still as we understand it.

[hjb1] 20/3/2017 18:16

last Thursday! and looking at the time of trade it was a sell!

[countryman5] 20/3/2017 18:07

250,000 buy at 32p

[philburt] 20/3/2017 16:13

fft - there*

[fft] 20/3/2017 15:31

Following on from above - that is what happened a few years ago when they missed targets.

Another issue if their hasn't been deliverables must be cash.

[boadicea] 20/3/2017 15:24

They're not likely to tell us they missed target until they've definitely missed, ie. 3rd April earliest. On the other hand, if they've already hit or exceeded target they could tell us now. One likes to be optimistic but experience does not encourage.

[barrieb] 20/3/2017 13:15

That's fine but do you remember how depressed we were when the share price hit 18p only to be surprised and delighted when the contract win news was released. Well this could be a similar situation as we are now operating from a firmer base position.

As we have adopted a more mature revenue declaration procedure this could be a reflection of how this is working, without pandering to worried relatively small investors. Especially as releasing detailed information does not go down well with our customers or is just not allowed due to their security concerns.

If I am wrong and it does drop to 20p as you are predicting, providing everything is going to plan in the update I would look to increase my position as it should be an exceptional 17/18. So either way us investors should hopefully do well here if we stick with it and top up on the dips!

[obiterdicta] 20/3/2017 13:08

No news means no news. 9 working days to inform market if above or below. You can interpret what silence means and be wrong with interpretation. OD

[hjb1] 20/3/2017 12:24

BarrieB, sorry, don't agree!

[barrieb] 20/3/2017 12:21

As I am sure you are aware this could go either way so the closer we get with no update the more likely a positive outcome.

[srtshare2] 20/3/2017 12:19

Thats what he means...confident results are sh...t.

[hjb1] 20/3/2017 12:11

not sure how you work that out unless you want to pick up cheap shares close to 20p?

[barrieb] 20/3/2017 12:07

The longer this goes on the more confident I am becoming!