Srt Marine Systems Share Discussion Threads

[pinkfoot2] 09/10/2023 16:06

Have Investors Chronicle says anything yet?They usually say something on SRT when news is afoot

[pugugly] 09/10/2023 15:40

Buys being attributed as sells - Interesting.

[extrader] 09/10/2023 14:55

'I'm too old to cry...but it hurts too much to laugh'.

Generally speaking, I'm with you.
I guess my main irritation is at myself.
'Must try harder'.

ATB

[supernumerary] 09/10/2023 14:52

ex - I don't get irritated about this sort of stuff I'm afraid - absolutely par for the course both here and elsewhere on AIM. Mostly makes me laugh :¬)

[extrader] 09/10/2023 14:25

Hi supernumerary,

(1)Blame the company for being an 'enabler'
(2)Be doubly irritated that these activities don't benefit the company, only the traders.
(3)Be trebly irritated if you took part in the recent Placing - as I did - which actually puts money in the company's coffers - to the benefit of all shareholders.
(4)Then read snide or ill-informed comments of 'underhand' tactics by people who fail to recognise (1) and (3).

Not a happy bunny, atm.

HTH

[lavalmy] 09/10/2023 14:09

At the AGM (I was generously provided with a recording by an attendee), there was a mention of how well they had done on the transceivers side and that that performance would be visible at the interim stage. Not to the naked eye, it isn't. So firing on no cylinders at the half-way stage.

[goodapple] 09/10/2023 14:05

It seems such a short time ago that Mr T and the BOD were getting a round of applause at the AGM.

[pinkfoot2] 09/10/2023 13:59

I think another milestone RNS would make all a tad more comfortable

[supernumerary] 09/10/2023 13:56

misterd - it's also a becoming traditional that some holders sell shares before any scheduled announcement by srt, then pick on whatever they can find in it to point out the company's defects. This continues until the price has hit a bottom, at which point they start buying again, and become more positive about prospects.

[lavalmy] 09/10/2023 13:43

And they said this in March:

'These results are lower than market expectations for the current year primarily due to material systems business project milestones that had been expected to be completed by the end of the current year being delayed to the early part of the new financial year.'

Where are those?

Answer, they didn't exist.

[extrader] 09/10/2023 13:27

Because markets don't like uncertainty...particularly the self-generated type.

At a guess.

[misterd1] 09/10/2023 13:15

Am I missing something?

RNS 18/05/23

SRT Marine Systems plc ('SRT'), a global provider of maritime domain awareness systems and technologies for security, safety and environmental protection is pleased to advise that it has signed a US$180million contract to supply an integrated maritime surveillance and intelligence system to a national Coast Guard.

The project has an expected implementation period of approximately 2 years, followed by a support and data services period of 8 years. The implementation of the system accounts for approximately 85% of the value, with the remaining 15% related to support and data services.

Therefore why such a negative reaction - 85% within 2 years - so even if there's a slight delay in H2 not the end of the world

[extrader] 09/10/2023 12:29

Countryman5

.."Most people would consider a £70 million outcome to be incredibly impressive.."

Agreed, they would. But that happy situation is at least 5 months away and - although on the face of it likely - is by no means a certainty. As history tells us.

And the market reaction is suggesting.

ATB

[supernumerary] 09/10/2023 12:21

I believe there's a few traders here, talking their own book :¬)

[pinkfoot2] 09/10/2023 11:28

I’m believe the company has the best of intentions and the opportunities are clear-but it’s down to execution and consistency going forwards

[pugugly] 09/10/2023 11:23

EC> Nice one!!!!

[effortless cool] 09/10/2023 11:03

"corner", I think.

[pugugly] 09/10/2023 10:39

Having reread the TU someone failed to copy check - not impressed.
"continue to be the reliable supplier of transceivers and surveillance systems that customers around the have come to expect from SRT."
Around the what - World?

Sends the wrong message -

OK Nit picking but attention to detail is critical.

[pinkfoot2] 09/10/2023 10:01

I will be over the moon CM-it would be a fantastic effort and result

[countryman5] 09/10/2023 09:53

Most people would consider a £70 million outcome to be incredibly impressive and support the brokers target price of 100 p. There are others who will never be impressed.

[pinkfoot2] 09/10/2023 08:19

Wrong CM-read the deflating RNS of 23/3/23 again-the clear position was simply that they had seen revenue related milestones slip into the early part of the following year so nothing to see here Sir.It’s now mid October and the half year numbers were poor.This is the point Lav made and of course in between, we had a big cash call which settled around £5m.

The market is I think expecting £70m for the full year so let’s hope those milestones are met

[countryman5] 09/10/2023 03:11

I note the angst amongst the gloomsters that there was no systems revenue in the first half. None was ever predicted. The current forecast came with the broker update 18 May 2023,following news of the £145 m contract with a SE Asia Coast Guard. Turnover £71 m and PBT £7.3. The note states FY24 revenue Systems forecasts are based on signed and announced contracts. The other contract is the follow on, stages 2 and 3 with a M E customer. The £71m also includes £15 m from transceivers. When the forecast was made the company assumed that the final sign off on the two contracts would take place between Oct and Dec 2023. This would allow kit located at MSN to be delivered before year end and milestones reached. The early milestones include the data centres. It should be noted that the £71 million allows for revenue being conservatively reduced by 10% to allow for potential milestone slippage.The forecast was based on best estimates of timing. We all know that slippage can take place, resulting in revenue added to the following year. Likewise turnover can be higher than forecast. The 10% reduction may not be necessary. Delivery of the data centres can be ahead of schedule, perhaps allowing for further revenue if data centres are installed and commissioned before year end. The forecast does not factor in the arrival of the long awaited Bahrain upgrade. Turnover could be in the range of £70 million to £90 million. All will be revealed next April.

[pinkfoot2] 08/10/2023 12:03

Well clearly the shareholders and market don’t understand the model either because patience is wearing thin.Lav hit it right on the head the other day on the 2023 revenue slippage statement.The company has a history of missing targets-it continues.

I’m going to give it another 6 months until the next witching hour then pull up stumps if we here more of the same

[countryman5] 08/10/2023 07:36

I think the 'market' and possibly some on this board, do not understand the SRT model.Once a Country locks into a SRT system, all future contract extensions are obliged to come via SRT. Everything has to go through Geovs. It could be argued that SRT should install the first contract at a loss, in order to lock into future contracts. However, Geovs is so unique that Countries need the SRT system. A ME Country is just completing stage 1. We are awaiting sign off on stages 2 and 3 ($35 million ?). The next stage might be $100 million??? for radars and then there is satellite feeds and maintenance contracts. Have they got military grade CCTV on all of these towers? There will always be upgrades and they will all have to go via SRT at SRT's price.
My understanding is that there are detailed discussions between the UK government and SRT's new bank and a SE asia Country that has signed up, in principle, to a UKEF supported contract of £145 million.
I suspect SRT's directors, together with major shareholders, have been put under the spotlight, with regard to this funding. It is all part of the money laundering process. However, once this process has been completed, future UKEF support for other contracts should be straight forward.
I note in this weekend FT a half page advert by H M Government 'Made in the UK, sold to the World'. The advert invites exporters to apply for UKEF support. Visit great.gov.uk/trade-finance. HMG is pushing UKEF.
It would appear that SRT is a UK gov 'Blue eyed boy'. If UKEF funding is readily available, this will underpin finances going forward. Banks will be more than willing to lend on contracts to foreign governments which are underwritten by UKEF. Likewise suppliers of electronic kit will be offering generous discounts and credit terms in order to be the SRT preferred supplier.
Equally important is that Countries will have confidence in signing contracts with SRT, if they know that the UK government is underpinning the finances.
In the unlikely event that SRT should ever be taken over, Countries know that there will always be Geovs.