Srt Marine Systems Share Discussion Threads

[yumyum] 26/4/2017 17:31

SRT made profits of approx £1.2m for the year ended March 31 2017. This on turnover of approx £11m.

The company is already a profitable, high margin, exporter. It also has net cash in the bank.

Turnover for 2017/18 looks almost certain to be multiples of last year ('pale into insignificance')

Lack of visibility is a two-edged sword. That is why the share price is so depressed and cheap. With more visibility later this year, I think will come multiples of the current share price.

[yump] 26/4/2017 16:36

I don't see the point in debating marketing brochures and their equivalent sound-bites. That is not going to give any useful result on which to make any judgement or decision.

[yumyum] 26/4/2017 11:56

Well...me too !

This year I think it is very different. And more visible now than ever.

[hjb1] 26/4/2017 11:35

I saw profits of £10m+ for the last couple of years after all the preceding optimism that was banded about, but yes if the Indo deal goes anything like planned then £10m should be a breeze.Oh! and there is time yet for a cashcall..

[yumyum] 26/4/2017 11:23

especially what YOU expect ! Losses....cash call fund raising....share price to 20p...
oops.

But fair point, I was expecting more orders to come in for 2016/17. I view this company and their position in the hugely growing marine domain management arena as very exciting. Very.

Do you see profits north of £10m for 2017/18 ?

[hjb1] 26/4/2017 11:14

what you expect and what you get is a country mile apart!!

[yumyum] 26/4/2017 10:50

I am expecting profits for 2017-18 to be north of £10m. I call that good quality and home made jam.

[fft] 26/4/2017 08:59

That sounds better. I, also with others i suspect, am concerned that the lack of extra jam compared to the optimism of 9-12 months ago means that other bigger players are making it more difficult for countries to decide the route to go.

[yumyum] 26/4/2017 08:53

Thank you kinbasket. Appreciate your usual knowledgeable insight.

[kinbasket] 26/4/2017 08:36

I read the blurb and it seems Vespers claim comes down to this caveat.

"In addition to new functionality that no other ‘black box’ AIS transponder offers"

What they've done is bring some of the functionality of more sophisticated systems back into the box and made it accessible via a phone app.

They've put an alarm in the box that says you are going to bump into something or you're dragging your anchor etc. None of this is new, it's just been added to the box rather than relying on a screen.

Any AIS that has a screen (i.e. isn't just a black box) already has all this. And any AIS attached to a bigger system has all this and more.

It looks like a good idea for very low budget users who can't afford a better unit and are happy to use a mobile phone to read the data. Not a massive market segment.

[pi0110] 26/4/2017 06:42

fft

Try looking through the Vesper Marine website and the many Youtube videos of their product. Then do the same with SRT products and it will become very clear that Vesper marines range of products is indeed inferior to SRTs. It basically produces a transponder and an AToN, no complete MDM system so is incapable of competing with SRT at national project levels.

The sophistication of SRTs transponders are such that "if" they don't already have some of the features that VM have, it would be a very simple remedy to add this to the more sophisticated SRT model.

Expect more competition to to enter this growing lucrative market but in the meantime I've yet to see genuine contenders for their complete MDM systems.

As for their claims to be miles ahead of everyone else! Well I'm the worlds greatest lover, there, I've said it in print now so it must be true :-)

[fft] 26/4/2017 04:19

Yump,. Do you ever listen to what ST says ? He has said himself that SRT are ahead of everyone else and disparaged the competition. However, i dont recall SRT ever putting it in an official release.Now we have a respected company putting in print that they are ahead.Either you have an inside line to SRT or vesper head office or you are just as much in the dark as the rest of us as to which is better and making progress in projects.I think the market is big enough for 2 players, but i wish that ST would not downplay the competition so much - or is that why we haven't? had radio silence for so long ?

[hjb1] 26/4/2017 00:30

ah! but not just any old ais device,... it's 'miles ahead' of any other...ha ha! and they have a vsp of £500m..

[trident5] 26/4/2017 00:11

What makes it better - the quote doesn't say. Is it the colour?

[yump] 26/4/2017 00:03

OMG someone else makes an AIS device !!

[hjb1] 25/4/2017 23:58

well someone is telling porkies, I thought SRT were way ahead?


'We are consistently pushing the envelope of the capabilities and uses of AIS technology and our smartAIS device intelligence is miles ahead of any other system,” says Jeff Robbins, CEO, Vesper Marine. “In addition to new functionality that no other ‘black box’ AIS transponder offers, Vesper Marine keeps expanding the capabilities and benefits to our customers by adding new safety and ease-of-use features'

[piedro] 25/4/2017 23:33

FWIW,

Vesper Marine Launches SmartAIS Technology



Vesper Marine, a leading manufacturer of innovative marine safety products, has unveiled its revolutionary smartAIS technology. smartAIS is a unique benefit of Vesper Marine’s award-winning product range, WatchMate XB-8000 smartAIS transponder, and WatchMate Vision – to make boating safer and more enjoyable. ... ...

[alter ego] 21/4/2017 14:50

Here is an extract from a piece from Simon Thomspson published in the IC last June following the Indonesia contract announcement. It confirms what I thought about the management of working capital on these large projects although I'm pretty sure it also applies to smaller orders from dealers for stock.


"I would also point out that in accordance with the company's business model contracts are cash generative from the start. This means that the board under the leadership of chief executive Simon Tucker can target major potential awards in its validated pipeline without being hindered by financial constraints. In effect, it has zero working capital requirements on these large contracts as the client funds them.



you'll probably need to subscribe to read the whole article

[eagle eye] 21/4/2017 14:37

YumYum,
I think the key point being there is no pressure on SRT's cashflow.
The prospective purchaser can also choose a regular payments route rather than a hefty lump sum up front.
Everyone a winner by the look of it.

[yumyum] 21/4/2017 14:07

eagle eye, I see this as being added value for SRT. They will effectively be using an intermediary and add on a small margin.

[brucie5] 21/4/2017 12:25

Look bullish. Come to join you.

[eagle eye] 21/4/2017 11:52

Recent Business Wire news release re SRT MULTI SENSOR VTS System

Note: 'SRT offers a flexible range of pricing which includes financing and lease packages'.

[2vdm] 21/4/2017 11:16

I think that's right alterego. It's also a very "bankable proposition" type of business should the need arise e.g. "we have a contract to supply ABC Gov't with this work/products and payment terms are on E, F & G.We need to fund X% of this and need to borrow Y". Not complicated. A bit like building a large estate of properties. Funded over stages. Given the margins and the way SRT have historically fwd funded its projects, it may not be needed. I can't remember what credit terms they get from their hardware suppliers, but again, it may help?

[alter ego] 21/4/2017 10:28

SRT have always taken a prudent approach to management of working capital - run for cash as ST once described it. I would be very surprised if they have entered into any project which is not forward funded by the client so far as the manufacture of equipment is concerned.