Hi Countryman5
In your 0743 today you say, inter alia, .."A vast amount of kit is waiting at HQ to allow the speedy delivery of these first milestones...".
What is the basis for this statement, pls?
As Lenin is supposed to have said ' Trust is good, but checking is better' ;->
TIA |
Lav is spot on by highlighting the ability of SRT to generate cash and pay down debt. The systems business generates about 25% pbt. The transceivers currently covers about 60% of the £9 million overheads. if Nexus and DAS deliver the profit from systems will go straight to the bottom line.
The brokers note mentions again the £1.4 billion validated sales pipeline and most people dismiss this as fantasy. The NOMAD would not be allowed to print this without seeing evidence of discussions supporting this figure. There is no certainty that these discussions will lead to contracts and there is no certainty that SRT will win these contracts. There is one coastguard contract where $1billion is mentioned over 10 years.
if only £1 billion of contracts are won in the next few years this represents a lot of reward for the company.
RE DJT above, Simon is merely stating the obvious,nothing is signed until it is signed.Read the last sentence. |
You can’t value FOMO mate
Today marked the day when contracts aren’t announced just before the year end anymore.It doesn’t wash after the latest cash raise-something I pointed to months ago.
To be honest, I’m surprised the market reacted the way it has-moving the year end to disguise a huge profit warning should be a reason to punish but that’s FOMO
I said earlier-it’s time to put the company up for sale as the public arena clearly offers very little anymore |
Here's SRT's revenue and EPS progress since 2012. All figures are in millions of Pounds for 12 months to the 31st of March of the stated year. I defer to others for comment.
2012 6.2
2013 10 1.3p
2014 6.1 (1.3p)
2015 8.5 0.0p
2016 10.7 0.34p
2017 11 1.34p
2018 5.3 (4.09p)
2019 20.56 2.43p
2020 18.9 (3.93p)
2021 8.3 (3.13p)
2022 8.2 (3.53p)
2023 30.5 0.04p
Post edited to add EPS figures. |
amt, you made me smile and I fully agree. Yes I can't understand why I keep dabbling here. Its hopeless. Ten years on and still only promises to show for it |
Yump
Not in the least frustrated, SRT have a long track record and it’s clear how they operate. I can sympathise with Tucker.
Re my ‘pointlessR17; post, that takes the biscuit with your stupid assumptions post.
You might try sticking to the subject, SRT, instead of making wild assumptions about posters. Try it. |
Leighford
Yes you and 2 others. Its your first post. Perhaps you’ve been here all along and have just got so frustrated you just had to post.
Why not enter the “discussion221; before you come out with a pointless post. |
 I found the new broker's note more interesting than usual.
Firstly, they say about Bakamla
'SRT is ready to deliver equipment once the agreement has been finalised and – importantly – the time to revenue recognition is expected to be short (ie not several weeks).'
We know that the ME equipment has been ready for quite some time.
Accordingly,
'By 15m FY24E to June, we do not expect any further drawdown of debt within the three months to June. Instead, the company is expected to have paid back £1m of the Barclays loan and a portion of the supplier loan.'
And as a result of SRT being at peak working capital requirement right now,
'In FY25E, the cash position is expected to unwind significantly. We expect positive working capital of £18.2m and £29.4m FCF, which will enable the company to repay c. £10.2m in bank debt and loan notes, leaving forecast net cash position of £18.8m equivalent to £22.1m gross cash and £3.4m gross debt.'
Sounds very promising.
I expect that they left the decision on extending the year-end until the last possible moment and events could move very fast here. Extrader was probably prudent in getting his extra shares now. |
Yump, maybe these guys are just here to soften up long term holders for a buy out? Just saying…㊂0; |
If you were referring to me Yump my comment falls under the category of ‘fair comment’.
This is a discussion board, not a ‘supporters217; board.
Then you gone into assume any ‘non supporter’ must be an unsuccessful investor sitting on big losses!
That is one big stretch. Certainly investors won’t have got rich here over the last 10 years or so. Tucker is an amiable chap and he’s done a good job building the company. But it’s not been great for investors. Can’t help but think this company would be better off under the wings of a larger enterprise.
It’s a cash guzzler and the aims of ensuring sufficient cash and keeping investors happy with extended procurement time lines has been a hard one to satisfy.
Please desist from further stupid assumptions. |
Yes I can't understand why I keep dabbling here. Its hopeless. Ten years on and still only promises to show for it. Much better opportunities elsewhere such as Bango |
As I keep saying this company cannot trade properly as an independent-cash, working capital, deadlines.All troublesome.
I would be putting it up for sale and testing the market.
Cavendish note is out-a lot of moving parts in the numbers.Has to be the most creative way of actually saying ‘warning’; without saying it so that’s a plus! |
There must be a sad little group of first poster RNS chasers on advfn.
That’s 2 more. 3 this morning by the look of it.
I guess it could also be a group of particularly unsuccessful AIM investors who now have no stocks they can contribute anything positive to, as they’re all sitting on big losses.
I certainly can’t find any stocks they support. |
Posted last week:
'In an investors eyes, SRT's biggest problem is delivering on forecasts and generate cash flow.
Operationally behind the scenes I think things are shaping up pretty well.
The business model is the problem and management have little control over that'. |
Might as well extend the reporting period out till say 2030, or why not abolish the listing and just go private?
SRT just can’t get a handle on these time lines can they, despite what they say are close relationships with the customer.
The latest swerve is inventive, but they can only pull this stunt once. |
I've added 200,000 on his morning's weakness.
It's last chance saloon for management, I think, if they don't deliver in Q2. Hope I'm not throwing good money after bad. |
It's a pure and simple lifestyle company. Has been from inception. |
The year end has gone forward with the clocks! |
It looks as if sales for the 15 months to June 2024 are now expected to be similar to those previously expected for the 12 months to March. |
I honestly don't think I have ever come across such a poor company. I have followed SRT for about twenty years and every year is like 'groundhog day'. There is the promise of big orders just around the corner followed every second year by a fund raise to keep the lights on.
Let's face it, there should be huge demand for the products that SRT sells (especially with all the piracy issues currently faced by boats of many kinds) and yet there appears to be an insurmountable issue getting Maritime authorities to commit to buying the kit. Something doesn't add up.
Today's excuse sounds ridiculous and how Simon Tucker still has a job is beyond me. |
Oh look another first post RNS chaser. Must have a pretty dismal life - can’t help but feel sorry for them.
Mickey Mouse reference is presumably ironic when its a Mickey Mouse post ! |
That's the most ludicrous and convoluted profit warning I've ever seen, and I've seen a few. Mickey Mouse CEO. |
Ok Yump-what’s the point of a set of accounts?How do you value/measure/compare?
Changing the year end 3 weeks before the year end is poor-very poor.
The noose tightens.The jam has to turn into monetary value. |
I see Mr Gloom has appeared as he does on loads of stocks, except the ones he’s pumping. (Not you pugugly) |
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