Srt Marine Systems Share Discussion Threads

[pinkfoot2] 09/10/2020 08:29

Lav

I agree with all you say but the key word is ‘if’ and most of us are hanging on this one

[lavalmy] 09/10/2020 07:03

It would be worth noting that some £6.5 million is due from the Philippines, of which about half would be payable to the local partner. This half, and maybe a bit beyond, there is a further £7,567,456 of revenue to be recognised. How much cost will be allocated to that or has yet to be incurred is unfortunately unknown, but a 40% margin might be close. So £6-7 million of net cash should be received from that contract, the bulk this half, £1-2 million possibly next FY. That should cover the overheads. In addition, there is the contribution from the transceivers business, no longer negligible.

As to binary, well what if one contract drops? The position we all want is for multiple contracts to be on the go, so that hiccoughs on one are smoothed by progress on others. Possibly the Systems Procurement Manager will be in charge of dealing with those sorts of contingencies.

[pinkfoot2] 08/10/2020 20:30

The problem is Countryman that it’s all in the second half again-though this time it’s Covid related.The reality is turnover is minute compared to market cap-which pints you to contracts.So the decision is binary-believe the contracts will drop or not.

Cash is ok but it will burn quickly if this virus continues to hamper

[lfc4ever] 08/10/2020 12:14

bit of a misread by the mm's there this morning

[amt] 08/10/2020 10:04

If that happens the share price will be over 2 quid. Its a big If though

[countryman5] 08/10/2020 09:33

Everybody knows that it is the systems business that will drive the big numbers. I understand that when the world went into lockdown the transceivers business collapsed because retail outlets shut shop. However recent sales must have been pretty good in order that sales collapse was more than made up with half year sales showing a 6% increase, despite the drop in sales in earlier months. The NOMAD is renowned for being cautious and yet in the recent brokers note it says 'Management is confident (underpinned by written assurances after three years of work) that the contracts will be signed as the coronavirus crises eases. These contracts could see FY 2021 revenue exceed £50m with Adj. PBT in double figures'.

[amt] 08/10/2020 07:41

Very positive update as usual.

[lavalmy] 07/10/2020 17:58

C5

Indeed it will be interesting in the future, but would at this stage entail more R&D and sales and marketing than procurement and production. Sales and marketing for ports and waterways had dropped off anyway as too time consuming for the limited sales team, regardless of current travel issues. I had rather thought that they were waiting for a steady or at least large amount of MDM business to be underway before re-engaging with a specific sales team targeting that market.

No doubt ST will make clear what their plans in that sector are next week.

[countryman5] 07/10/2020 17:16

Lav.

The company has its current MDM systems business. However, it has been flagged that there is going to be an environmental systems business. This will be a 'turn key' operation which will be aimed at harbours and inland waterways. The environmental information feeds will be supplied by ATONs located on buoys. This new business has enormous potential. I look forward to the launch.

[lavalmy] 07/10/2020 15:11

Next week is the 'AGM' and an interactive on-line presentation by ST. Thursday, timing as yet unknown.

[hjb1] 07/10/2020 14:42

must be due a webcast soon?

[lavalmy] 07/10/2020 13:52

Whilst waiting for the Saudi contract to be announced, I was musing about just what our Systems Procurement Manager will actually do.

The system, GeoVS in its various guises, needs no procurement. The transponders are batch made by Flextronics and good luck with getting them to change how they do things - though SRT do buy in and stock some of the components. James may not, like many before him, get tea and biscuits from Texas Instruments. From Dell, likewise.

So is it RADARS and the like? Overall logistics and supply?

Being the 'interface between the sales & marketing teams and manufacturing' for SRT is certainly more difficult than being the person at Finncap who had to issue the 'market' forecast and with much more blame being attached, either for not having enough widgets or for having too many, or believing the sales team or only half-believing them. Unenviable. Good luck James, I suppose.

[goodapple] 05/10/2020 08:27

Probably before the AGM.

[pinkfoot2] 05/10/2020 08:14

Morning all

Are we expecting a half year RNS this month?

[lazyj] 04/10/2020 16:53

Indeed welcome Mr James.
I am certain that all LTH's will welcome the timely addition of your knowledge,experience and implementation skill to our quality team at SRT.
From a merchandising perspective we are confident in the commercial and financial viability of the products.

Previous Role Responsibilities;
Interface between the sales & marketing teams and manufacturing.
Utilisation of demand planning and supply chain planning systems working with manufacturing plants to achieve on time production & positioning of stock throughout the European supply chain to satisfy customers expectations.

Previous Role Responsibilities;
Forecasting and demand planning in conjunction with local marketing & global planning teams
Inventory management in conjunction with the global supply network
Managing portfolio within key business metrics; Service & Business Performance
Forecasting, Ordering and inventory management.
Managing portfolio within key business metrics; Service & Business Performance
Supplier Relationship Management

Previous Achievements;
Implementation of new Supplier Relationship Methodology; Significant Backorder reduction
Stock Keeping Unit & Supplier Rationalisation; 350 lines / 15 Suppliers
Savings 2015 £220k, 2016 £450k
Procurement lead on a long term global strategic project.

[lavalmy] 04/10/2020 14:23

As ever, Linkedin can be a goldmine of sorts. On the first page of the employees list, all three of the Managing Director, a separate person called Simon Tucker and yet a third Simon Tucker appear, but for the first time ever, all three come one after the other. Is there some connection? We deserve to be told.

Onto more intriguing news, there is a new hire. And, if memory serves, they were holding back on new hires until these contracts (or at least one big one) were signed. So welcome on board Mr James Garmston, who started this October, i.e. tomorrow. His title is 'Systems Procurement Manager. I wonder what that entails?

[pinkfoot2] 28/9/2020 21:06

Herein lies the problem.Its all well and good tracing fishing boats but is there any appetite to take any action?

[goodapple] 26/9/2020 23:29

Marla Valentine, an illegal fishing and transparency analyst for Oceana.
A great future beckons....

[owenski] 26/9/2020 22:23

“For a month, the world watched and wondered what China’s enormous fishing fleet was doing off the Galápagos Islands, but now we know,”

It took them a whole month to wonder what an enormous fishing fleet might be doing?

How about fishing.

The clue is in the description - 'fishing fleet'. ;-)

[countryman5] 26/9/2020 22:12

The Guardian Sept 16th.
A vast fishing armada of Chinese vessels just off the Galápagos Islands logged an astounding 73,000 hours of fishing during just one month as it pulled up thousands of tonnes of squid and fish, a new report based on data analysis has found.

The discovery of the giant flotilla off the archipelago that inspired Charles Darwin’s theory of evolution stirred controversy and outrage in Ecuador and abroad.

Nearly 300 Chinese vessels accounted for 99% of visible fishing just outside the archipelago’s waters between 13 July and 13 August this year, according to analysis by marine conservation group Oceana.


'It's terrifying': can anyone stop China's vast armada of fishing boats?
Read more
The fleet was fishing primarily for squid – essential to the diet of the unique Galápagos fur seals and endangered scalloped hammerhead sharks – as well as for commercial fish species such as tuna and billfish that contribute to the local economy, the report said.

“For a month, the world watched and wondered what China’s enormous fishing fleet was doing off the Galápagos Islands, but now we know,” said Marla Valentine, an illegal fishing and transparency analyst for Oceana.

[michaelmouse] 24/9/2020 17:00

Haven't written much about SRT, but thought I'd post anyway.

[lavalmy] 23/9/2020 10:45

There wasn't much comment on the annual accounts, as they are quite dull. One thing I did notice was that they hadn't any large inventory representing the hardware for the hub for Saudi, nor any corresponding liability. Presumably, they were ready to order it and get it out promptly (and I doubt if stuff from Dell takes long).

There is a large accrual, but that represents most of the amount due to the Philippines partner. They seem to share about half the burden of the working capital (see the note 24, FX risk). They were owed some £14.9 million and in turn owed the partner £7.8 mn. That also accounts for the relatively low margin this year. The partner did all that work during the year and SRT will have had to supply some hardware as well.

[alter ego] 22/9/2020 10:07

barrytrader82 = spam