Share Name Share Symbol Market Type Share ISIN Share Description
SRT Marine Systems LSE:SRT London Ordinary Share GB00B0M8KM36 ORD 0.1P
  Price Change % Change Share Price Shares Traded Last Trade
  +1.00p +3.64% 28.50p 170,023 13:34:23
Bid Price Offer Price High Price Low Price Open Price
28.00p 29.00p 29.25p 27.50p 27.50p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 5.33 -5.23 -4.09 39.8

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DateSubject
18/11/2018
08:20
SRT Marine Sys Daily Update: SRT Marine Systems is listed in the General Financial sector of the London Stock Exchange with ticker SRT. The last closing price for SRT Marine Sys was 27.50p.
SRT Marine Systems has a 4 week average price of 27.50p and a 12 week average price of 24p.
The 1 year high share price is 39.50p while the 1 year low share price is currently 19.25p.
There are currently 139,742,419 shares in issue and the average daily traded volume is 139,837 shares. The market capitalisation of SRT Marine Systems is £39,826,589.42.
15/11/2018
16:31
lavalmy: C5 A good point about what information there is available. Apart from on here, there really is only the company itself and, via them, the single broker. Yes, Simon has done occasional promotion via Paul Scott or Mello. Private investors who look at AIM shares probably have come across the company and are either long-suffering like ourselves or now disregard the business and its prospects. Institutions are absent in any meaningful way. So when, as we both and many others here are confident, the contracts really start to come in, I think the share price will make up for lost time. I know we have discussed how tightly the shares are held, but I suppose in many AIM companies there are equally large holders amongst founders/management as at SRT. The big difference would be the larger private shareholders who have accumulated over the years, Persey, Laing etc. I still think that next year and the years thereafter we will be looking at a business earning close to and beyond double digits EPS. How that will be valued initially is anyone's guess, but as it becomes more consistent and the recurring earnings from these customers become more visible, then it will be at increasingly higher levels. Whatever the mess that this Brexit is likely to entail for other companies, SRT will also shine as a business that is immune to any impact with practically a 100% export focus, dollar earnings and mainly dollar costs, in a growing market with a decent moat. It could become fashionable. First things first. The Philippines, as you say, very soon. Another three or four shortly. I am not sure that lack of courage has been holding these projects back, as you suggest, more just multiple stakeholders, a lot of planning etc. All that makes SRT integral to the process (witness the whinging from the wannabee rivals in the Philippines) and allows them to customize the architecture for each client, which they uniquely can do for AIS-based MDM because they own all the techology. Where I think there will be a huge benefit is that these projects are all part of phases in most of these countries, so once started will carry on to their logical conclusions unless abandoned. They will not be looking to change systems once started and they clearly like what they have seen.
14/11/2018
19:54
countryman5: Lav is very well informed and I for one am very grateful for his input. What are SRT shares worth? As always this is the factor of sells v buys. Does the share price mean anything? Only if one is buying or selling. Buyers will buy and sellers will sell based on information / fear / greed. What information, apart from what appears on this site is available? Not a lot. If you are of a nervous disposition then you might be tempted to cut and run. If you have swallowed the SRT story then you might buy some more. I am in the latter camp and am very relaxed and anticipate a contract from the Philippines very soon. If this comes to pass then other Countries in SE Asia will follow. I suspect that there are many officials who are frightened of taking the wrong decision. If the Philippines plump for SRT this will give Vietnam, Thailand and Indonesia the confidence to proceed. The same applies in the Mid East where Bahrain has committed to SRT. I am hoping for Bahrain Mark 2, plus Kuwait and also Saudi to come on stream soon. I understand that SRT and Emtrak are usually flying the flag at the big trade show in Amsterdam at this time of year.
12/10/2018
07:17
countryman5: Perhaps the UK gov should be offering to help fund Philo 3 on the basis that SRT gets the contract. It would probably get most of its money back via taxation. Ie SRT makes a profit and pays tax. SRT share price multiplies several times and shareholders pay CGT. Good relations, unlike the French, will lead to multiple UK trade deals with the Philippines, post Brexit.
09/9/2018
10:15
countryman5: What will be the trigger for a takeover attempt of SRT?. I concur with LAV that it would have to be a generous agreed bid in order to get the very few major shareholders (Including the BOD) to consent. But as they say 'everybody has a price'. SRT will not be alone in bidding for the increasing number of MDA contracts. We know that CLS won Philo phase one and no doubt will be bidding for Philo phase 2 (Mark 2). No doubt there will be others. I suspect that CLS has other Countries under contract where SRT are now appearing as a better alternative. I understand that JRC, who now source some of their AIS kit from SRT, have won some historic port contracts and may be coming head to head with SRT on other contracts. Would JRC want their AIS supplier to fall into hostile hands? Then there is Airbus, who I believe have had success globally. If SRT is seen as having the winning formula (CLS does appear to be purely satellite and V. expensive), logic would dictate to take them out. Logic might also dictate to take them out whilst the share price is low. £1 might win now whereas it might take considerably more if the contracts start to run. I think it is safe to say that SRT'S competitors know much more about SRT's capabilities than we the humble PI's. The companies that I have mentioned have large wallets. However, I suspect that there are many more that would like SRT as a bolt on.
05/9/2018
17:50
fredfishcake: Good summary by alter ego. Simon even more bullish and enthusiastic than last year and seems very confident not only that they’ll be re-awarded the contract stuffed by the French shenanigans (worth over 30m Euros) but that a decent chunk (more than 15%) will be front-loaded and delivered and paid for by Xmas…..as some of the kit is still in country. This is likely to be the world’s largest fishery MDA and is likely to lead to other projects in the same country – so fingers crossed we do indeed get it. For newbies, there are two strings to SRT. The first is hardware, and this seems to be doing well, kicking off £5m this year and aiming for 15-20% increase per year. I got the impression that Emtrak was being pushed by SRT more this year than last, and several people mentioned that SRT kit had a good rep for reliability and durability. Certainly the hoops they have to jump through to get any kit certified by multiple authorities mean that there is a non-trivial moat here for kit that can be sold worldwide. Production is still done by Flextronics, but they’ve moved from FT in Hungary to FT in Ireland for logistical reasons. This had teething problems which probably cost £1m in lost sales this year, but has now bedded in. Competition is Alltek/Weatherdock, and they are getting 40% margin on these sales. The second string is the systems, where GeoVS gives a pretty display, and more importantly analytics based on AIS and any other data to hand (radar, CCTV etc). This is where the excitement lies, though any revenue is likely to be lumpy and unpredictable. Here, Simon claims that SRT are the gorilla in the market, with a proven system in Bahrain that is likely to be seriously expanded in a second phase soon. It sounds like the old ‘no one ever got fired for buying IBM kit’ situation, with SRT kit having a reputation for just working reliably and cost-effectively. Half of SRT’s R&D is spent on updating GeoVS, with a new release aimed for around every six months; each providing better analytics. Profit margin on systems is targeted at 50% and the numbers here are large - £144m in procurement stage, which is apparently business that’s very probable that SRT will get. Simon was of the opinion that they had sufficient staff to handle up to five projects simultaneously, though I suspect this would be a major stretch, but it would be a nice problem to have! The mood of everyone working at SRT was positive, with low staff turnover and banter suggesting that most people were happy with their lot. In terms of investment, it depends on how much you believe Simon’s ongoing enthusiasm. The potential for this company is huge…..last year they had revenue of £5 million, so imagine what a few contracts in the tens of millions would do to the share price. However, they do have a history of disappointing the market….it occurs to me that the first contract awarded (Simon’s best guess is that two will drop before Xmas – I assume this year!) may well lead to minimal share price movement due to general mistrust. However, this might prove to be an excellent entry point for any doubters. Personally I continue to hold and may add on any contract news – but no one should think this is one for widows and orphans.
26/5/2018
15:18
lavalmy: C5 CLS is by far the market leader in long range tracking of fishing boats (and other things such as fish). Nothing has prevented CLS from winning the contract as they are subcontracting to SRT the infrastructure and transponder side of the contract - they used SRT for the transponders in Phase 1 and are obviously pleased with the way it works (now much improved). The bidding document is rather specific about having several large fishing boat tracking systems already operational and no-one else does to the best of my knowledge, at least not French. CLS runs the Indonesian system and the Vietnamese system as well - these are for the biggest fishing boats. I think that bodes very well for SRT as these countries aim to expand coverage. You should read Tuckers reply linked below which explains the difference between legacy systems and what SRT can now do. It ties in quite well with HJB's recent quote of SRT's marketing blurb - 40% cheaper etc hTTps://uk.advfn.com/cmn/fbb/thread.php3?id=34273118&from=5675 I think it is rather helpful for governments to assist their companies to develop their overseas business, particularly in areas where the developing countries may not see the immediate benefits of this sort of investment or have more pressing needs. CLS had government backing in Vietnam and Indonesia. I am also reasonably sure that CLS suggested to SRT that they too try and get UK space programme support for SRT's Vietnam project - unfortunately that attempt failed. I understand that the UK did pay some £20 million as a grant to Airbus for them to develop a cheesegrater type of RADAR satellite. Possibly instead of bemoaning French support for their businesses, you might find another target closer to home? CLS is reasonably acquisitive but in very specific segments. I doubt that they have any interest in SRT. Maybe Airbus, Thales etc might in the future. Expletive I am not talking about the leak. I am talking about short selling by an insider of some 300-400k shares twice. After the extreme share price drop the second time, then the Standard printed its story which included clear reference to the drop. As I say, this happened twice in three months, at a small scale for small profits by someone who doesn't seem to be very good at it.
12/10/2017
14:19
juzzer100: Here's the email:After another disappointing trading update, it's time to sell SRT Marine. SRT Marine makes "black boxes for boats": gizmos that identify boats, and show their location. At the moment, the oceans are a free for all. Nobody knows which boats are moving in and out of national waters. Coastguards want boats in their jurisdictions to install black boxes, like those made by SRT, to keep an eye on everybody.And SRT has landed some big contracts from foreign governments, like those of Bahrain and Saudi Arabia. Other overseas governments have made positive sounds about kitting out their fleets with SRT devices. The "pipeline" of "potential" orders is huge: "a £77m contract order book... a validated pipeline of new sales opportunities worth up to £270 million". In the context of a £50m small cap, these are big numbers. But having said that I've decided to sell SRT, for a 26% loss.SRT has always had loads of potential. That's not in doubt. It makes the best kit of its type in the world, and some big customers are showing interest. The problem is that sales are excruciatingly slow in coming through. At some point you have to ask whether these orders are just pipe dreams.As I said the last time I reported on the company, "SRT has been spinning this yarn for a number of years now. Certainly for a few years before we invested in the stock in March last year. And it trades on a punchy multiple of 6 times sales, so a few of these future deals are already baked into the share price." As ever, the CEO Simon Tucker is confident. He says "we have several projects which are either pending or under contract, therefore we look forward confidently to the second half of this financial year." I don't share his confidence. If SRT were going to do it, it would have done it by now. Time to SELL SRT Marine (AIM: SRT).
17/4/2017
08:03
countryman5: I suspect that the company is trying to balance different interests. It wishes to keep the market informed about financial prospects and yet it has to allow its customers confidentiality. It also does not wish to disclose to one customer what it has charged another. I suspect that the recent vague announcement regarding a ME country will become the norm for future major contracts. If I remember correctly, at the 2015 AGM we were told that there was a validated sales opportunity pipeline VSOP(three year)of £200 million. Shareholders reached for the salt cellar. At the 2016 AGM the presentation stated VSOP of £200 million plus an order book of £70 million. Will the company inform the market with regular upgrades of order book and VSOP, rather than stating size of each contract? Just read an article in the Economist about Aadhaar in India. Apparently 99% of indians have an identity number based on their biometric identity. India is clearly ahead of the world with this and we are told that SRT is in the running to supply identifiers on fishing boats to prevent another Mumbai attack and also to control fishing. Could each identifier be linked to the iris of the fishing operator? The world is fast changing and SRT is in the lead with AIS technology. PS. What will be the SRT share price at 8.05 am on June 7th.?
13/4/2017
08:11
yumyum: I agree kalkanite. If 'excellent progress' translates shortly into one or more new projects under contract then there will three (or more) contracts running concurrently. That should put pretax profits for the year ending March 31 2018 at over £10m in my opinion. SRT share price looks seriously undervalued. It is below the radar still (should use satellite AIS!). I look forward eagerly to house broker finnCap's profit forecast.
06/6/2016
08:00
yumyum: VSP over 3 years is over £200m, plus up to $100m order book over 3 years...so approx £270m? Or is the $100m still part of the VSP? How much of that VSP can be nailed down to firm orders? Fifty percent would mean £33-45m per year. If that is achieved then SRT share price should be well north of £1 as soon as there is another decent order (which could be imminent).
SRT Marine Sys share price data is direct from the London Stock Exchange
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