Srt Marine Systems Share Discussion Threads

[yump] 10/7/2020 21:12

At last ! Great news.

How many buses is it though ? 1 or 2 ? Although one of them is running late ;-)

[hjb1] 10/7/2020 16:57

40% partner payment seems a bit high? Suppose it depends on what their contribution is I guess.

[gerihatrick] 10/7/2020 16:42

Stage 1 was £17m and the local partner takes 40%. The total was £31m I believe.

[countryman5] 10/7/2020 16:15

LAV. Any thoughts on what 'significant cash payment' might mean?

[countryman5] 10/7/2020 11:20

Six month road map, as viewed by an optimist:-
Signing of Saudi and Kuwait contracts followed by a broker update of T/O £30 million and PBT of £6 million. This will be followed in late summer by BFAR showcasing the all singing and dancing SRT system to all of its neighbours, including Vietnam and Indonesia. I suspect some of these are at the 'button push' stage but are just waiting to see the system in all its glory. I am also hoping that the next BFAR system contract will be out for tender and this one could include numerous zeros in the tally price.

[fredfishcake] 10/7/2020 10:46

Just reminded myself of the Philippines contract - this is from contract award RNS of Dec 2018 - so 18 months ago or thereabouts:

"£31million VMS System Contract Award

The contract will be executed over a four-year period in two main phases. Phase one is the supply and commissioning of all the equipment and systems. This includes an extensive network of monitoring sensors, data centres, monitoring centres, and 5,000 vessel transceivers and is expected to take up to 18 months to complete. Phase two is the ongoing operational support and continuous supply of satellite data sourced from a variety of satellite constellations into the VMS system. Each phase itself is divided up into multiple milestones each with variable timings according to the project delivery schedule all with defined invoice values upon delivery and acceptance by the customer."

Today's update talks about a 5 month pause, so you'd expect phase 1 of this contract to complete this calendar year. I don't remember seeing a breakdown of revenue or profit between the two phases, but I'd expect phase 2 to be pure jam/profit, but the majority of the revenue to be earned in phase 1. £31 million is a nice chunk of change!

I'll also be extremely pleased if we get our long-awaited payment from Kuwait any time soon, and signing a contract with either Saudi/Kuwait, along with evidence of ongoing cash collection from BFAR should put a rocket under the share price Here's hoping!

[supernumerary] 10/7/2020 10:32

In the words of the song:

'I guess she's still a virgin,
...But it's only 5 'til 9'

Patience chaps, patience. And congratulations to all concerned at SRT - I can't imagine a tougher job in the current circumstances - takes real capability and dedication.

[lfc4ever] 10/7/2020 09:55

not even back to the levels were were at in May, which is perverse.

[countryman5] 10/7/2020 09:49

I believe that these were about 50 p when covid struck. Not even back to that level. Market still has not woken up to this one. takeover approach will probably wait until Saudi and Kuwait are over the line.

[the oak tree] 10/7/2020 09:32

Great news. Can see other countries start to take their borders and fish stocks more seriously.

Thanks for this comment posted above, made me laugh (in a good way!)

"The jam has just entered the building."

[owenski] 10/7/2020 09:20

That's a fair few transceivers.

[lavalmy] 10/7/2020 09:17

Talking of which C5, I surmise that SRT expects to sign those two before the accounts are out. SRT suffers from chronic irritable auditor syndrome and that would assuage two prominent issues, as well as allow more time for a further Philippines milestone payment maybe.

[lfc4ever] 10/7/2020 09:17

Should move fairly quickly back to one year high round 50p I would have thought.

[fredfishcake] 10/7/2020 09:15

There was me yesterday, looking at the share price flirting with 30p, telling myself "don't buy any more, you're already way overweight with SRT". Hindsight is a wonderful thing.....that would have been a nice quick 20%!

[countryman5] 10/7/2020 09:13

Where are the Jeremiahs this morning? I guess that they are looking for the sackcloth and ashes. I now expect a tip from Simon Thompson and others to jump on the bandwagon. Not expecting a broker update until Saudi and Kuwait are signed.

[lavalmy] 10/7/2020 08:57

New photo from the Philippiness showing the transponders ready for installation.

Re cash receipt, they tend to be £5 million or so.

[techno20] 10/7/2020 08:38

All credit to ST and the team. The update is significantly more positive than I’d expected. If he can pull off the Middle East deals against a backdrop of Covid-19 and (at one point) a negative oil price, he’s a near miracle worker! Nice share price reaction this morning. Looking forward to more detail Wednesday. Wish all my stocks’ mgmt communicated as well as SRT.

[crystball] 10/7/2020 08:27

It will be good to have an update next week with more detail. It would be good to know how much cash has been received.

[goodapple] 10/7/2020 08:26

AGM on 15th October should be very interesting. H1 figures will probably be available then too.

[amt] 10/7/2020 08:21

I must admit I am now a believer. Seems that everything is coming together and it's no longer a jam tomorrow story. So should be over 50p then.

[pinkfoot2] 10/7/2020 08:06

Timely-and cash too.Well done

[eagle eye] 10/7/2020 08:01

Well done to everyone at SRT.
Great trading update. That will bolster the cash position.
None of the delivery team were furloughed, so everyone up to speed and ready to go.

[gustavfenk] 10/7/2020 07:43

The jam has just entered the building.