Srt Marine Systems Share Discussion Threads

[the prophet] 05/10/2016 01:48

Good points , LaV

[philburt] 04/10/2016 16:13

Thanks LaV.
Not that it was me worrying....lol

[lavalmy] 04/10/2016 15:31

Absoultely nothing to worry about re cash position. End March trade debtors (mainly re Indonesia) exceeded trade creditors (up mainly because of the same) by £2 million. Add cash of £1.8 and all overheads are easily covered. And then we have sales of an unknown number, some out of the large stockpile.

[the prophet] 04/10/2016 15:12

don't worry, hjb, as we've got min £100m expected within the three year period, which kicked off, if i recall correctly, beginning of this year. Assuming the Indonesian contract goes to plan, then it looks likely they will do this reasonably easily (touch wood and all that!)

[hjb1] 04/10/2016 15:05

yes TP, your last sentence is the problem! years and years in fact

[the prophet] 04/10/2016 14:59

all depends on that Indonesian contract I guess?
Cash is usually given in the TU, so we will know soon enough.
Must admit, don't like being (almost) totally dependent on one contract, even if it is a massive one.
These others are sure taking their time to get over the line, but nothing we have not seen before.

[crystball] 04/10/2016 14:52

I guess the crux is are SRT running out of cash?

[sspurt] 04/10/2016 10:43

Thanks Kalk and alter ego. I guess the crux is what margin SRT will be able to make on these big projects, assuming of course they win more and assuming that is the direction they wish to go, and how sustainable are those margins likely to be. Secondly the development of ongoing cashflows arising from these projects will be an important factor. V difficult to make assumptions at the mo with the market in its infancy.

[sspurt] 04/10/2016 08:16

Ok thanks - that is helpful one and all. Alter ego, is their software proprietary do you know? I am getting the impression that SRT can be viewed as one up from a contractor, albeit in a very specialised market, but it may be a very substantial gap with a big moat. I guess the size of the margins will give us a big clue in that direction.

[dj trading] 03/10/2016 17:01

What are SRT doing to get themselves known in the USA? (Other than through some not very proactive distributors!) having let their sales rep go?

From memory Tucker said that the USA represents 16m of the estimated 26m worldwide boat fleet yet they don't appear active at shows with Em Trak or SRT brands. I have looked at quite a few over the past few years and only ever spot competitors.

eg Alltek (AMEC), Vesper and McMurdo all exhibiting at the Annapolis boat show this week. (Advertised as the USA's largest in-water boat show)

[alter ego] 03/10/2016 16:09

According to that fount of all knowledge Wikipedia,"Intellectual property (IP) refers to creations of the intellect for which a monopoly is assigned to designated owners by law". This seems to accord with hjb1's view since SRT do not have a monopoly in law to their creations.

Having said that, I think TP is right to say that patents are not the key here. Anyone can and probably has copied SRT's hardware designs but what distinguishes them from the copies is the way in which SRT employ software to provide the functionality. Without that the boxes are not very useful. I think their real USP is that they have a deep understanding of their field born out of their radio roots. The old name Software Radio Technology is the clue.

Constantly improving and pushing the boundaries of the technology is what keeps them ahead of the pack IMO. It may not be a legal monopoly but until someone else does it better, it is as good as one.

[sspurt] 03/10/2016 14:39

Genuine question - what IP does SRT have other than knowing more about AIS than the competition such as there is?

[oldscallop] 03/10/2016 12:52

I thought I had been premature by top slicing as soon as we hit 50p - feeling rather better about that now. However I'm still well ahead and basically optimistic but, as I think I posted after the Indonesian order, we do need to see another similar deal soon in order to consolidate.

[visionon] 03/10/2016 12:46

Based on 2014/15 I would guess trading update this week and interims 5/6 weeks thereafter.

[the prophet] 03/10/2016 11:18

usually interim results in November, but a trading update is usually given in October.

Unless more of the Indonesian order is recognised in this half, I concur with Owenski, something in the region of £3m-£4m would be my best guess.

[goodapple] 03/10/2016 09:31

Do we know results date?

[hjb1] 03/10/2016 09:21

£3.4 -£3.7m hmmmm! I certainly hope it's better than that?

[the prophet] 03/10/2016 08:39

agree with your take Owenski.
My pot of jam is slowly working it's way to the back of the cupboard.....

[owenski] 03/10/2016 08:33

I'm guessing this'll turn in £3.4 - 3.7M, give or take for the half year and a loss, so it remains to see how the outlook is and how it's presented.

Must admit with so many projects on the cusp I would've expected to see something dropping in by now. Second half will need to be very positive to maintain the current valuation.

My pot of jam remains sealed still ;-)

[kendonagasaki] 02/10/2016 23:58

How much is a loss making company with bells and whistles attached to rejuvenate and hide its loss ....actually worth??Apparently a lot of silly and juvenile investors bought the hype and the high!?Remember, any investor with an iota of cerebral cortex still intact and operational knows that 40p is 50% over valued here.Those without the above.......BUY!