Srt Marine Systems Share Discussion Threads

[yumyum] 04/10/2023 21:18

yump, why are the interims being so severely delayed?

[pinkfoot2] 04/10/2023 18:08

But it’s not 60p-it’s well below the recent strike price for the downsized raise.

I can see no reason for doing an interim RNS 6 weeks after the 30/9 other than cosmetic.Put another way, if it was amazing news, we would know about it by now.

I hope they put out the RNS pronto-uncertainty in this market is appalling

[yump] 04/10/2023 17:46

If the share price was at 60p and it was a bull market, nobody would be worrying.

There have been some evil drops in some stocks for no apparent reason recently. I suspect quite a few folk are going to cash. Just look at the financial news.

[yumyum] 04/10/2023 17:36

It smells like we are being conned yet again again with ST's smoke and mirrors failed forecasts. No jam looks in the offing. Perhaps no rabbits either.

Maybe of course there a valid reason that the interims are being delayed. Or, as pinkfoot2 says, are they waiting for some good news to dilute the bad ?

[pinkfoot2] 04/10/2023 17:21

Correct-feels like they are waiting for some good news to dilute the bad.Deadlines have never been kind with this one!

[edhaysler] 04/10/2023 16:47

Trading updates have always been about this time in past years.
3/10/2022
8/10/2021
8/10/2020
4/10/2019
3/10/2018

[lavalmy] 04/10/2023 16:46

Hang on a sec.

The interims are done and dusted even if not yet disclosed. I don't think that if Bakamla give the green light tomorrow that there will be an invoice until December at the earliest, more likely January, as per the AGM. And the earlier comments about cash outflow on this contract are probably equally out. I don't think they can or will order anything until the loan agreement is signed, which then releases the GEF facility etc.

Saudi, on the other hand, yes. As you remember, they have to come over pre-shipment to check all the bar codes etc so the kit has to be there for inspection. Another inspection when it arrives in Saudi, then sign-off and invoicing.

I don't expect the trading statement to be pretty but to be accompanied by positive news on one or other of these, maybe even both.

[extrader] 04/10/2023 16:27

2/12 in 2021, 19/11 in 2020....

The fact that this time it's (apparently) nowhere near any of those suggests they must have picked it up from somewhere ?

Apols, my bad : I got my 1/2 year trading updates mixed with my 1/2 year results.....

Shoulda gone to specsavers.

[pinkfoot2] 04/10/2023 16:00

Half year update last year was 3/10/22

[pinkfoot2] 04/10/2023 15:54

That’s 6 weeks after the first six months-is this normal?

[yumyum] 04/10/2023 15:53

Thank you Extrader. Indeed that time again. Fingers crossed it ties in ...just in time.

[extrader] 04/10/2023 15:28

Monday Nov 13th for the interims, per stocko.
I wonder if they can get an interim Bakamla invoice in in time?

Squeaky bum time.
Again.

[yumyum] 04/10/2023 12:59

yes, indeed.

[pinkfoot2] 04/10/2023 10:41

No need to panic but it’s a tough market out there.Raising the £5m or thereabouts looks visionary

[yumyum] 04/10/2023 08:42

cash burn must be massive if they expect to deliver large parts of Baklama contract next month.

[yumyum] 04/10/2023 08:36

How big will be the 1H loss ? Could it be a £10m loss or is that way off beam ? Active systems contracts are still waiting final sign-off and previous contracts are moreorless finished.

[countryman5] 01/10/2023 12:42

The ASEAN Maritime Outlook, August 2023 gives an insight of the potential, if SRT becomes embedded within this area.

[eagle eye] 01/10/2023 12:00

The AGM Presentation is now available:

[pinkfoot2] 29/9/2023 17:28

What’s the forecast for 6 months again?

[lavalmy] 29/9/2023 17:07

Indeed Extrader

A £28 million miss or about half of forecasts is hardly that small, particularly if Monday comes in at less than £10 million which I expect. They had intimated that the £28 million was due to a little slippage on delivering on projects not the absence of them.

It will be overlooked pretty soonish and maybe that is why they do it, a bit too much like Boris for me.

[extrader] 29/9/2023 16:57

The problem with overpromising and under-delivering on the 'small stuff' is that it poisons the atmosphere and management credibility re other things, like the VSP.

It's the reverse of 'nobody gets fired for ordering IBM' : why put up an investment proposal on a new name if there are question-marks against it?

I'm sure this will all be forgotten/overlooked in the fullness of time and an abundance of contracts...but we're not there yet!

ATB

[extrader] 29/9/2023 16:19

The 200K Bahrain production IIRC is mostly a 'gift' from Saudi, in which it allows Bahrain to sell some oil from a Saudi concession....

There are a few token 'nodding donkeys' still around Awali, which was a 'town built on oil' back in the 1930's, accounting for most of Bahrain's 40K bbl onshore production..

I have a soft spot for Bahrain, I lived there many years in the 80's and 90's, both pre-and post Causeway link to Saudi, which was transformative.

Before it was 'discovered', the family used to pootle out to Jarada - a sandbank that disappears with the tides and lies 1/2 way between Bahrain and Qatar.

In those halcyon days, we had the place to ourselves...save for the occasional company of a 'waving the flag' Bahraini Coast Guard dhow - I suppose what passed for 'maritime domain awareness' back then.

Long ago and far away...
ATB

[yumyum] 29/9/2023 13:22

Bahrain 200,000 bbl a day. Not nothing at today's prices.

[countryman5] 29/9/2023 11:36

The next stage of Bahrain has been in the pipeline for many, many months. The RNS may be Monday? Bahrain does not have oil money and therefore needs cash from somebody else. Likewise Kenya.