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Share Name Share Symbol Market Type Share ISIN Share Description
Srt Marine Systems Plc LSE:SRT London Ordinary Share GB00B0M8KM36 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 35.75 35.00 36.50 35.75 35.75 35.75 160,297 08:00:02
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 18.9 -6.9 -3.9 - 59

Srt Marine Systems Share Discussion Threads

Showing 26401 to 26424 of 26500 messages
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DateSubjectAuthorDiscuss
09/4/2021
15:43
Yes, my invite EC (and all) :-)
yumyum
09/4/2021
13:38
Are they to pay for the £1 party?
effortless cool
09/4/2021
12:51
I bought 300,000 shares at 35p.
yumyum
09/4/2021
11:59
It sounds like there will be fairly continuous newsflow re contracts, four in H1, one in Q3 and two in Q4. The broker's note says this: 'To set against the £8.5m debt, we have clear visibility on £15m of cash: From guidance we expect £5.7m cash from delivery of the existing system contracts in the year ahead and the Transceivers business should generate at least £4.0m of cash from its profits. With the current £5.3m, that is a total £15.0m cash from the existing business alone for this year.' Not quite true in that some of the £5.7 million will be payable to the Philippines' partner, but very comfortable indeed. Interesting to note that the Transceivers side is expected to contribute £4 million. Elsewhere, they say that over the next 2 1/2 years they expect to see £20 million of this at a 25% margin, whereas this comment suggests more like £10 million p.a. @40%. All-in-all set very fair.
lavalmy
09/4/2021
11:28
The market is in a trusting mood this morning!
boadicea
09/4/2021
10:49
Yes, let's do that !
yumyum
09/4/2021
10:45
If we have got to £1 per share by then, then I will definitely get to it. We should have a party!
effortless cool
09/4/2021
10:41
"£1 a share by the end of September this year ?" That would be nice, one can but dream. AGM pencilled in for 22nd September, and I hope we can get to it this year.
goodapple
09/4/2021
10:32
This clearer explanation of forthcoming contracts ties in with the latest SRT webcast where CEO Simon Tucker really does sound confident. ''How do I see cashflow for the next couple of years?...depends exactly on the timing of the contracts....I would hazard a guess....well it's not a guess....I am pretty...well I know what the cash flow is really...er...um...very positive, enabling us to repay all our debts...build up our reserves and start delivering dividends'' £1 a share by the end of September this year ?
yumyum
09/4/2021
10:27
How long? If I knew the answer I could be rich but I do know the need for these systems hasn't gone away and the contracts haven't been awarded to another party. Covid has badly disrupted normality and changed many government priorities so it should be no surprise that SRT has suffered delays. Vaccinations are helping restore more normality but every country is different so you can't make blanket assumptions. ST is the only one with enough knowledge who is in a position to give an opinion. You either trust him or you don't. Anyone who doesn't is probably better off taking their money off the table unless they are a gambler.
alter ego
09/4/2021
10:12
Alter-how long mate?How long?These contracts have been around a long time.I’m not denying it’s difficult I’m with FFT on revenue recognition-needs to be consistent and backed up with cash SP clearly sees the potential however!
pinkfoot2
09/4/2021
10:12
Alter-how long mate?How long?These contracts have been around a long time.I’m not denying it’s difficult I’m with FFT on revenue recognition-needs to be consistent and backed up with cash SP clearly sees the potential however!
pinkfoot2
09/4/2021
09:10
pinkfoot2 says ....but it cant sign contracts because of Covid.Is it that difficult? Well, clearly you seem to think it's just a case of putting pen to paper, even remotely. If that was all that was involved then it would be simple. But it's not that simple. As Simon has said on numerous occasions, you are dealing with governments and their administrative processes and people. In some cases multiple agencies are each required to review and approve proposed contracts. So in addition to the painstaking process of negotiating the details of a contract, someone, maybe many someones will want to read and check it all before giving approval. Our own civil service can be tediously slow to make something happen so why expect foreign governments to be swift? Then we have the question of budget. No point signing the contract if there's no budget. Another bunch of people will need to understand what will be required to pay for the contract. Laws will need to be designed approved and passed to enforce new rules. No doubt there's a good deal of arguing about who wields the power and a few turf wars. All of this before you even start to think about who needs to be trained, who will handle the physical implementation, construction and oversee the project. SRT will have done everything they can to provide a contract that offers what the client needs to achieve what the client wants but it doesn't have any power to make people speed up their processes if they are inclined to take their time. Covid just adds to the difficulties locally.
alter ego
09/4/2021
08:57
Great post Countryman. Very positive report out from Finncap this morning. Keeping the faith for another year!
techno20
09/4/2021
08:55
It looks to me that when the contract was signed, most of the revenue was recognised then. Look at the full year accounts issued Mid 2019. Trade receivables is at 18m. i.e. the revenue has been reported in the P and L, but the cash hasnt been received. The accounts issued mid 2020 only show a small decrease in trade receivables. All that has happened this year is that the revenue that was in the P and L back in 2018/19 has finally been paid. Thats why there is no 'revenue' from the all the cash that has arrived. C5 method, would, if i fully understood it (!) be double counting as the 13m has already been recognised. SRT revenue recognition policy is fairly useless and over the last 10 years there have a number of occasions where all the revenue from a contract signed less than a week before the end of year has been fully recognised - even though only a very small amount has been delivered. It really should be recognised as delivered.
fft
09/4/2021
08:46
sensible post countryman. if you look at the figures for y/e 3/2021 themselves, you roll your eyes, see same old, same old and probably sell and chalk it up to experience. if you look at the projections, you might roll your eyes even more, see same old, same old and sell. but- qualitatively, this feels different to me. this is not unsubstantiated guff about market size and validated pipelines. this is saying, we have 4 contracts, worth £71million, whcih we expect to commence in the next 6 months, and a further contrcat, worth £14 in the 6 months after that. it would be outrageous if they were to publish that without strong grounds for really believing it to be true. nothing is certain of course, but it feels to me that the 0830 this morning could be the last time we ever venture under 30p
lfc4ever
09/4/2021
08:44
Thanks Countryman, that makes sense.
2vdm
09/4/2021
08:35
’You could argue the company broke even’It didn’t mate. It seems the company can design things, make things, and forecast things during Covid-but it cant sign contracts because of Covid.Is it that difficult? As for cash, we have been here several times with the historic mismatch between revenue recognised but no cash received. Always depends on whether you are half full or half empty of course but these figures are not great
pinkfoot2
09/4/2021
08:30
I'm always foxed by accounting standards as to when cash is recognised. Are they saying that the accounts recognised nothing from the Philippines for the past year, but they've physically paid £13 million into SRT's account, but it's not reflected in the figures??? "Five worth £85 million are of primary short-term focus for us given customer guidance regarding their contracting processing status." I'd read that as saying that the contracts haven't been signed yet. As usual, Simon is supremely confident that they're coming, it's just a question of whether you have faith in his confidence. If you do, the upcoming year could be very good. I'm still invested and hopeful, but the constant delays are starting to get worrying....
fredfishcake
09/4/2021
08:21
The headline figures look terrible, but what is the real story? There is £13 million from systems business received in cash but nothing declared as revenue. This anomaly is based on the initial BFAR contract which was to be funded by the French Government but was stopped when the contract was awarded to a UK company, instead of French CLS. The money the had to come from Philippine budgets. The contract was underpinned by two sets of milestones. Delivery and payment, The payment milestones were done on time periods, to match with budget availability. The delivery milestones were based on actual completed stages. When the contract was signed it was anticipated that the payment milestones would lag delivery. However, because of Covid the payment milestones have been ahead of delivery. The Company used to need about £10 million of turnover, at about 45% margin , to cover overheads. Because the overheads have grown in recent years to underpin the systems business, it now requires about £20 million of turnover. This last year there was £8 million from transceivers and £13 million of cash from systems. You could argue that the company broke even last year. Despite Covid, the systems business managed the same T/O of last year. I am expecting (Hoping for) 20 to 25% growth. ATON sales should be motoring (think Suez canal), a lot of the initial Class A's need replacing and increasingly countries are mandating boats over a certain size to have AIS. I believe Canada might be in that category. Turnover this year? I am assuming £10 million from transceivers. The BFAR contract will be completed this year, which will allow the £13 million of undeclared cash to be recognised plus the further £5.7 as identified in this statement. That is £28 million, without anything from the £125 million which is identified in the statement. Can we believe the figures in the statement? At the time of writing those figures must be true, because they will have been scrutinised by the Nomad, the bank and also the Company solicitor. It is interesting to note that the Bank has taken on the CBILS loan. The company has no assets and banks don't like lending to companies, without fixed assets that can be sold. The bank must have seen the contract documents before agreeing to the loan extension. If we accept the figures in the statement as being true, we are talking about £125 million of extra revenue over the next 24 months. If we assume £50 million of this in the current year, this would make T/O of £78 million this year. After servicing overheads, this could provide for a profit of £25 million!!!!!!!!! My concern was that the company might run out of cash. This is not an issue. A cynical soul might suggest that the bad headline figures today allow for Directors and shareholders in the know, to have a buying opportunity, assuming Directors are allowed to buy. Don't be surprised to see Director buying today. Simon Thompson of the Investors Chronicle likes this one. I will be interested to see what he has to say next Tuesday or Friday.
countryman5
09/4/2021
07:57
Whichever we you present it’s a whopping loss with lots of jam on top.Disappointing and I’m surprised they can’t get contracts signed remotely
pinkfoot2
09/4/2021
07:56
Yes if the stuff is due for delivery why can't they just state contracts have been signed. It looks great but we have been here before.
amt
09/4/2021
07:40
They are working on the design and specification with the clients, No formally signed contracts it seems but as good as such in my books.
ppmm
09/4/2021
07:34
Can anyone put this into plain Englsih - For instance how much of the quote below is FIRM and how much still shbject to finalisation and therefore possibly not proceed- I am CONFUSED. https://www.londonstockexchange.com/news-article/SRT/trading-update/14930389 "Covid lockdowns have prevented system customers from moving forward with new contracts during the year, resulting in a lost year for SRT financially. We now have seven new system contracts worth a total of £125 million which are pending commencement as the respective countries relax restrictions and contracting processes catchup and normalise. Five worth £85 million are of primary short-term focus for us given customer guidance regarding their contracting processing status. These systems are vitally important to our customers and we maintain very close liaison with them whilst we both wait for the relevant government contracting agencies to normalise operations.
pugugly
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