Srt Marine Systems Share Discussion Threads

[hjb1] 27/1/2017 11:06

yes, it's a bit confusing.The newer one is pretty good though.

[the prophet] 27/1/2017 11:02

hjb
have put the new web-site link in the header

[the prophet] 27/1/2017 10:57

cheers, see what you mean
I usually look at this one, which is just the same as usaual



maybe they need just one web-site or something....

[hjb1] 27/1/2017 10:54

TP, it looked new to me, maybe because I haven't looked for a while @ srtmarine.com

[the prophet] 27/1/2017 10:44

just looks the same to me, hjb, anywhere in particular jazzed up or perhaps I'm just looking at the wrong bit....

fft, hear what you are saying. The differences this time around, as I see it:

1) We are not waiting for an order as such, as we have an order book of £70m. We are waiting on SRT completing a 'deliverable' and being able to invoice once delivered.
That indicates, least to me, that SRT are more in control of the process than , for example, trying to chivvy an order along and the complete or partially fill before a year end.

2) The language used in the interims or TU, that substantial deliverables 'will be delivered' in the 2nd half or words to that effect. Unfortunately that is no guarantee, but it does at least indicate everyone, broker, nomad, SRT, were convinced at the time the statement was made.

So none of the above is any guarantee that forecasts will be met this f/y, but perhaps it gives a higher chance that in previous years when we were wating right near the end of the f/y for an order, and then that order had to be shipped.

I would like to see this bit from the interims come into play, as it is vital for taking away all the will they won't they stuff that we seem to get every year

'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.'

[hjb1] 27/1/2017 10:25

well at least the website has been jazzed up a bit..

[yump] 27/1/2017 08:57

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[philjeans] 27/1/2017 08:42

'Tis true the silence is deafening.

And, strangely, has been for several months.

I'm just hoping they're working very hard on another biggie, and obviously daren't say a word yet until the deal is signed off.

Either that or they're in takeover talks and, again, constrained to keep mum.

The rhetoric at the AGM last year is in stark contrast to announcements since.

[countryman5] 27/1/2017 07:58

Those of us who have attended AGM's will recognise the expertise and dedication of senior management (and also other members of the SRT team). I regard their remuneration as being relatively low. However, I suspect that there has been an understanding that when the 'pot of jam' arrives there will be compensation. I regard the 'pot of jam' as being turnover of £50 million pa. Shareholders will be rewarded with a share price in excess of £1 and senior management will receive a share bonus but direct remuneration will have to be addressed by the remuneration committee and also take into account underfunding during previous years when cash flow was tight. The BOD will also have to address the 'Lav question'. Dividends, share buy back, or both.
Will the new contracts be in US$, Euros or sterling? Should the company hedge currencies?. The US$ is set to rise if Trump carries out his promises but he wants a lower $. Will the US buy foreign bonds to drive the $ lower? Will sterling regain some of its losses? Can the euro do anything except depreciate as the euro area problems mount?

[hjb1] 26/1/2017 22:11

but I am very funny..lmao..anyway how do you know I didn't mean lots of luuuurve!

[yump] 26/1/2017 21:58

The lol is a giveaway - it always follows posts where someone thinks they are being funny, but they're not and inwardly they know they're not, so it makes them feel better; its a kind of parallel to that song by Alanis Morissette about irony that's just an illustration of bad luck, that is in itself ironic.

Now where did I put me pint ?
lol

[kalkanite] 26/1/2017 17:37

hjb1

You said...

"oh and I think it's vsp, India is part of the VSP just like many others that might never happen.
Don't suppose you thought you would end up with egg on your face when you woke up today eh? lol"

I prefer not to indulge in small minded point scoring but if you look at the 2016 AGM SRT refer to Validated Sales Opportunity Pipeline, whether you yourself prefer to refer to this as VSP or VSOP is meaningless so could you please refrain from trivialising what is otherwise a very good investment thread?

[the prophet] 26/1/2017 17:15

Can't ever rule anything out, as in a project being shelved, delayed or whatever, that is outside SRT's control. But we are nearly 11 months into the deal, clearly the expectation is of 'significant deliverables' delivered in this half, so the only conclusion one can draw is it's all on track.
Where I would agree with you is the year to date has been rather boring,with just the odd bits from Trinity House and Panama Canal. Saudi was good news in that, at last, the thing had kicked off, but not the sort of excitement one was led to believe at the agm. There's still time and least the share price is double where it was a year ago.

[the prophet] 26/1/2017 16:14

here it is, 12th April last year, TU:

Simon Tucker, CEO of SRT said: "With a 24% increase in revenue these are another solid set of figures. However, the most significant progress has been made in market development and sales opportunity conversion. As a result, we enter the new financial year with a GBP70 million forward contract order book, and a validated sales pipeline worth over GBP200 million, both of which are growing. We therefore expect an exciting year ahead."

[kalkanite] 26/1/2017 14:15

Hjb1

I think you are confusing matters here. Indonesia are already on the order book as £70m contracted sales. India are part of the £200m validated sales opportunity pipeline (VSOP)..... keep up :-)

[yump] 26/1/2017 12:00

Of course nobody in government has mentioned whether the consequences of (possibly) doing less business with the EU after Brexit and more business with India, the Far and Middle East, China etc. will lead to more cash-flow issues for UK businesses. As in they have a different 'payment culture'.

[hjb1] 26/1/2017 11:55

kalk, yes they say that about India too...seven years and still waiting! lol

[the prophet] 26/1/2017 10:40

I've got the jam in front of me here, there is no 'best before' date!

The bod certainly were confident at the AGM, but at this rate I'll be taking me pot of jam back with me to the next one or collecting another one to make a set!

But if there's one thing we have learnt it's that these things always take longer than we think, think of a time line, double it then double again and that might be close.
I would have hoped by now that we would have had multiple significant projects running, but we are reliant on Indonesia, least for now. Good news that saudi has kicked off and perhaps Bahrain will come in with that follow on.

The shares price remains buoyant in the face of not a lot of news over the last 6 months, clearly someone or person(s) are happy to buy all they can at these levels.

We still have 2 months left of this year for the significant deliverable to be delivered. I know the view that it doesn't really matter if it's this f/y or next. I don't really subscribe to that as I feel it is important for SRT to establish a track record of delivery to investors.
SRT is certainly not a 'leaky ship', so news could come at any time.
All the best to all onboard!

[kalkanite] 26/1/2017 10:39

Haha

Always ther to bring us down to Earth. While nothing is certain in life (apart from tax and death)it wouldn't be possible to invest in anything if we were that sceptical. I see no reason why the Indy contract wont go ahead, there is so much at stake in terms of security and economics.

[hjb1] 26/1/2017 10:29

trouble is, the Indo contract isn't a cert either, just like ALL the others they supposedly have on the books! I would take a look on the best before date on that jam if I were you.

[kalkanite] 26/1/2017 09:40

Some large sales being absorbed over the last few days, clearly someone is buying.

2017 year end is approaching fast and there are no deliverables announced as yet suggesting perhaps that we are going to under shoot this year’s forecast by some margin if it stays that way. However, I’m personally not too bothered about 2017 results, once these have been announced SRT will be looking to give guidance on 2019 figures and that is where the interest lies. As I see it we still have circa 13p EPS to come from the Indonesian contract, assuming that they are on track to fulfil this on time then one assumes that even on a cautious estimate forecasts for 2019 will be at least 5p giving the company plenty of upside from there.

I’ve still got my pot of SRT jam waiting to be opened.... .... The BOD were certainly brimming with confidence at the AGM giving the impression that signed contacts are imminent, however as discussed before on this thread governments are notoriously unpredictable given that so many departments have a vested interest in the terms of any negotiations/contracts.

Looking forward there is risk to the downside in the short term but once the 2019 guidance is given in June we should start to see some strong gains. In the mean time another announcement of a new contract would be very welcome.