Srt Marine Systems Share Discussion Threads

[hjb1] 20/10/2020 16:03

i'm sure it already does in those far off backwaters!

[goodapple7] 20/10/2020 15:47

Some day soon shooting will break out over a fishing dispute. Fish as a principal food source is far far too important for some countries.

[roycecooledge] 20/10/2020 15:21

Great time to buy!

[hjb1] 20/10/2020 13:40

lemmings out today I see. lol Don't forget, news imminent! sell at your peril!

[pinkfoot2] 20/10/2020 12:20

This was in the Times today-makes you feel sad reading it.SRT sold some kit here way back but it’s all about enforcement or willingness to act

Huge Chinese fishing fleet accused of ‘raping’ Galapagos on industrial scale

hxxps://www.thetimes.co.uk/article/huge-chinese-fishing-fleet-accused-of-raping-galapagos-on-industrial-scale-m08lxd60j

[kinbasket] 20/10/2020 11:15

Britains fishing industry.. ? I'm not sure 7 boats and a bloke with a fishing rod constitutes a major opportunity..

[countryman5] 20/10/2020 10:58

Daily Express.
Brexit Britain's fishing DEFENCE! UK to use technology to track vessels in fishing waters
THE UK is looking at using technology to ensure it has a "sustainable and thriving" fishing industry after Brexit as it takes advantage of being an independent coastal state once again.

[pinkfoot2] 17/10/2020 17:25

You could rephrase it by saying the company recognises revenue when work has been done or goods supplied and the customer is going to pay for it.Cash received usually a good sign!

[lavalmy] 17/10/2020 07:24

A quick point about revenue recognition might be useful.

Despite about a page and a half in the notes to the accounts about how they treat this, the webcast was more succinct. Basically, they only recognise revenues according to milestones reached (and signed of by the customer) and not on a percentage completion system - though what they do with WIP remains a mystery. That means that the rest of outstanding balance due from the Philippines at year end represents completed milestones for which they expect to be paid as per the contract (some £6.5 million) rather than work which they have yet to finish. They also expect to complete further milestones this year, so more of the £7.5 million of revenues left to recognise on the contract will be recognised and paid.

The remaining life of the contract is two years, so some will still be left to bill and I think there were some retentions mentioned in the contract as well which would currently be in trade receivables. If we get a rainy day, I will try to dig out what the payments schedule was/is from the Philippines side of things, but a decent chunk of cash should be paid this FY.

[alter ego] 16/10/2020 22:31

Thx La V. Indeed I presumed the meeting was post bid. I get it now you have pointed it out.

[yumyum] 16/10/2020 21:52

pinkfoot2....I absolutely know what you mean. It would only be a mistake if you were putting off buying until early March. 40p now....let's see.

[pinkfoot2] 16/10/2020 18:12

We seem to be at the same repeating point of the cycle.£3m turnover in first 6 months, thumping loss, and all on the second half.I think it would be entirely possible to go away and come back early March!

[lavalmy] 16/10/2020 16:36

AE

They always do that. It is to allow potential bidders to ask questions about the bid, the answers to which are then available to all who bother attending. There is supposed to be zero direct contact between the purchaser and any bidders apart from that. Of course in practice, the precise requirements will have been specced with one or more bidders beforehand. But process is process, particularly with the World Bank.

Edit. AE, I think you missed the 'pre-bid' part.

[alter ego] 16/10/2020 16:24

Interesting La V. I noticed this section:

"8. A pre-bid meeting will be held at 15.00 Hours (Local time- GMT+06:00Hours), 1 November 2020 at the address given below. Interested bidders are requested to attend the meeting. In view of constraints on account of COVID-19 pandemic, the pre-Bid meeting will be conducted virtually through live video conference, for which electronic connection link will be sent by the Purchaser at least seven (7) calendar days prior to the date of pre-Bid meeting through e-mail to all the potential Bidders who obtained/acquired the Bidding Document and who may choose to attend through video conference."

How does that work? All all the bidders attending concurrently? Having submitted their bids, they cannot revise their bid so I'm struggling to see why a meeting of all parties is needed?

[lavalmy] 16/10/2020 15:22

Bangladesh/World Bank have issued this:



which gives us a timeline of submission by 26th November. No value on this but wasn't it some 10,000 boats or so. I think the three year lease of the software means licence.

[supernumerary] 16/10/2020 15:05

Any idea what 'West Asia - several significant world bank funded fisheries projects' means? Presumably Bangladesh. And Sri Lanka? Does this constitute 'several'? I like them being 'World Bank funded'.

[lavalmy] 16/10/2020 14:21

The webcast is on the site now. Nothing seems to be edited.

The only thing that I wanted to check was his slide about 'multiple significant new opportunities'. From around 35 minutes on. What had intrigued me was a comment about having to look at it carefully, which is indeed what he said, as well as 'that there is no exaggeration here about the opportunities and the status of them.' 37.50 ish.

So I look carefully and I am not at all sure what I am supposed to glean from it. It seems very likely that he is hinting at the Philippines and possibly that is related to the $50 million 'follow-on or new' project mentioned a bit prior to that.

Otherwise, the World Bank stuff in Bangladesh we sort of know about. It is nice to see that the M/E is pencilled in for a further £150 million of follow-on as well.

As ever, we wait for the ink in the M/E.

[alter ego] 16/10/2020 14:10

I thought this snippet might be of interest.

Following my question to ST about sales in Australia I followed up with an enquiry to Louise Coates. She said Vesper had historically had a "large reach" which is how I recalled it but that she has signed up a number of large and significant dealers who are now regularly supplying SRT and em-trak kit to their customers.
Apparently units with wi fi connectivity are the most popular, both 2W and 5W.

In general, em-trak is such a strong brand it produces lots of calls from new dealers as a result of customers asking for a specific unit because a friend has one or they may also notice other dealers selling the brand.

Seeking out new dealers is a constant activity and Louise is always looking for new opportunities to expand sales and to fill in gaps in dealer coverage.

It seems to be working judging by the sales growth reported.

[goodapple7] 16/10/2020 13:46

SP moved now...!

[fredfishcake] 16/10/2020 11:48

It's the first time I can remember one of these not moving the shareprice. I know that Covid is getting in the way, but SHOW ME THE CONTRACTS

[lavalmy] 16/10/2020 09:36

SRT overpromising? Never.

[extrader] 16/10/2020 09:33

Maybe some editing needed, if there was an inadvertent 'over-promise' ?

[lavalmy] 16/10/2020 09:28

Bit slow putting it online?

[yumyum] 16/10/2020 08:39

£69m over two and a bit years starting...this calendar (correction...this financial year ending Mar 31 2021) year.....plus xyz maybes spread over 2-3 years...starting.....some in 21-22 cal (correction...financial year) year fingers and toes crossed.