Srt Marine Systems Share Discussion Threads

[yumyum] 11/4/2018 09:47

75p is a bit conservative....

Thank you PUG

:-)

[pugugly] 11/4/2018 09:45

SRT Marine Systems Plc SRT finnCap Corporate 24.00 21.25 75.00 75.00 Reiterates

[yumyum] 11/4/2018 09:41

LaValmy,

I do not know if this is really a reiteration but I saw this today from Stocknewstimes.com :

SRT Marine Systems’ (SRT) Corporate Rating Reiterated at FinnCap

Posted by Mandy Boone on Apr 11th, 2018 // No Comments

SRT Marine Systems logoSRT Marine Systems (LON:SRT)‘s stock had its “corporateR21; rating reiterated by equities research analysts at FinnCap in a note issued to investors on Wednesday. They currently have a GBX 75 ($1.06) price target on the stock. FinnCap’s price target suggests a potential upside of 252.94% from the stock’s previous close.

[lavalmy] 11/4/2018 09:17

YUMYUM

Have finnCap reiterated?

SRT did say that they had two in Asia, one of which, in Vietnam, came of the boil a bit, as they were hoping to get some UK government funding which didn't work out. I understand that it is still going ahead but that the Vietnamese will have to pay for it themselves. A fisheries project, very similar to the Philippines, and under coercion from the EU who issued a yellow card in October.

[yumyum] 11/4/2018 09:11

Bearing in mind this is effectively announcing a contract win then this is extremely positive. As far as I know we did not have an Asian project until this announcement (excluding Indonesia which is pending restart).

''These results reflect the excellent progress we have made across all our business operating segments, in particularly our systems business which saw some significant milestone deliverables completed for an Asian project which we will provide more detail on in due course."

Looking forward to finnCap's updated forecast after final results. Meantime it seems they stick to their 75p share price target.

[lavalmy] 11/4/2018 09:06

fft

Every year they say 'subject to audit', as I think most companies do.

May be a tipping point, particularly if we get one, two, three, four in succession, two of which will have a satellite component.

[fft] 11/4/2018 09:01

If no contract has yet been signed, and they are going to try to book some revenue, that could be why the trading statement says 'subject to audit'. Perhaps some discussion in the accounts department about that ?Results date pushed back in the expectation that cash will have been received. Ties up with the 3m loan. This could be the tipping point for SRT. Maybe,. But given the price fall over the last year, there is still time for those who sold out to buy back in at a lower price than they sold at.

[daddycee69] 11/4/2018 08:35

Congratulations to all concerned. Keep up the hard and valued work.

[yump] 11/4/2018 08:32

I wonder if any posters will admit to being wide of the mark with the doom and gloom stuff. That's at least two people who 'boasted' about being accountants that I've seen on ADVFN who have let their 'expertise' get in the way of assessing an actual business. The other one is DiscoDave 1-5.

Perhaps they might issue an 'error of judgement' statement, that at least isn't the same as saying they were wrong. Then go into politics.

In terms of the p/e - the rationale for that is totally to do with what happens next year. No significant increase in profits and it will flounder. Double them and the share price will fly and the p/e might well rise as well. Its an unknown unknown until contract announcments appear.

This level seems a decent risk/reward to me. As it has before.

[yumyum] 11/4/2018 08:26

They look like suspiciously massaged figures...just meeting within 10% of broker forecasts...but there must be something credible behind. By the skin of their teeth. Well done SRT team.

Looking forward to a truly great year and concrete news of serious contract wins.

[2vdm] 11/4/2018 08:21

Thanks LaValmy. I wonder if we will hear any more news re the Indonesian project and whether it will re-start this year.

[smartmoney100] 11/4/2018 08:08

Bought some back this morning. Could get quite a relief rally imho

[pugugly] 11/4/2018 08:06

LaValmy - I am always cautious having been burnt too often with similar wording The old name occasionally used to cover possible surprises was "the Clergyman's Cloak" Not implying that applicable here but having discovered the hard way suggest always a good idea to be on the cautious side..

[lavalmy] 11/4/2018 07:51

2vdm

No other impact on the pipeline, except that one of the four near-term contracts has been started (c. £6.5 mn booked). I would think that ST will announce the full details shortly and then hold his usual webcast.

[crystball] 11/4/2018 07:49

Pleased to see this update. Detail will come out in time. Mr and Mrs Laing were right to be building up their stake. Simon Tucker and his team are doing a great job. Well done.

[lavalmy] 11/4/2018 07:48

Pugugly

Are you being obtuse? They have already announced and booked the exceptional item. And they always say 'expect'.

[2vdm] 11/4/2018 07:48

How does this affect the validated pipeline and when is ST due to update us approximately?

[pugugly] 11/4/2018 07:47

"and exceptional items" - Can cover a multitude of sins - also "expect" so not out of the woods yet (imo)

[amt] 11/4/2018 07:28

Update not too bad nevertherless pe of over 20 still.

[lavalmy] 11/4/2018 07:25

5th September, AE.

[alter ego] 11/4/2018 07:24

LaV, yes I’m sure it is to do with receipt of payment. ST must have a specific date in mind too as there would seem no difficulty producing the figures for the year to 31 march much earlier. Looks like the agm will be in Late August or even Sept.

[lavalmy] 11/4/2018 07:20

BTW there is a growing number of projects waiting for the next NEDA board meeting. The process was supposed to have been streamlined/speeded up, but they haven't met since last September. Even then, Duterte didn't show up. He is now on a jolly in China for a couple of days. I would expect that there is pressure to get things done. The Philo 2 project is a mere pimple in comparison to most - one is over $10 bn, I believe, so will probably not even get discussed, just rubber stamped.

[lavalmy] 11/4/2018 07:13

ae

They are probably waiting on some/all of the contracts to be signed, and, more importantly, the cash from the French government to be received. The accounts would be much more convincing if they could say that they had actually been paid for the goods shipped in March - particularly given the normal payment cycles that they have endured.

[countryman5] 11/4/2018 07:12

Congratulations to ST and his team. Commiserations to the nasty brigade who have been posting here. Commiserations also to the PI's who believed them and sold their shares at such low prices.