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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 | |
---|---|---|---|---|---|---|---|---|---|---|
0.50 | 2.22% | 23.00 | 22.00 | 24.00 | 23.00 | 22.50 | 22.50 | 514,407 | 08:00:38 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Communications Services, Nec | 30.51M | 69k | 0.0004 | 575.00 | 44.27M |
Date | Subject | Author | Discuss |
---|---|---|---|
18/7/2018 08:13 | trades going through at 26p | hjb1 | |
18/7/2018 08:10 | Disappointing indeed, but MM appear to have a buy order as marking sells as buys! | ramnik007 | |
18/7/2018 08:04 | This is why peeps take the vsp with a pinch of salt! I wish he would stop with this vsp stuff! | hjb1 | |
18/7/2018 07:53 | Thanks LaValmy. I think that for those who are patient (and heaven knows some of us have been), this will pay off. It's a knot, but it will unravel over the next 12 months. | 2vdm | |
18/7/2018 07:41 | fft I wouldn't worry too much about what ST says. He is only trying to cover his privates with this notion that they have actually delivered anything at all. How likely is it that they managed in two weeks to deliver one third of four year contract, a contract, we are always told, which is complex etc.. Probably some of the kit is from the Indonesian contract. I think that the difference here is that there is a clear, verifiable paper trail in the Philippines about this project, even if SRT are not mentioned by name. As mentioned a couple of days ago, they are moving ahead with the regulations etc. And, I think, at least one bit of the RNS is accurate, viz, that they only found out yesterday that their finesse wouldn't work and that the internal funding had cleared the final hurdle. | lavalmy | |
18/7/2018 07:40 | Already marked down by MM's 30% to 20/22. Will this hold or crash below 20p offered? Probably not (imo) a buying opportunity except as a gamble - Forward vision very foggy - AIS and radar not working - | pugugly | |
18/7/2018 07:39 | it sounds like the work has started SRT commenced the implementation of the project including delivery and invoicing of product as per the contract milestones. why return stuff if they are confident of getting the contract? | davemac3 | |
18/7/2018 07:38 | Cliche competition started... | yump | |
18/7/2018 07:38 | If it was only a tender and not a contract, then SRT should not have jumped the gun in trying to get it into the last FY. Except that they had to because... It just shows has the rest of SRT business has not done very well at all in the last year. 5.3m must be the lowest revenue in the last 10 years. BTW, Early MM call is to open at 20-22p | fft | |
18/7/2018 07:33 | best to write this one off too maybe? When gear gets returned it usually means for good.If it was defo going to go ahead why return it, for the sake of a month or two? Tucker street cred dives lower and lower, I fear the worst here! | hjb1 | |
18/7/2018 07:33 | Lavalmy, The rns states "the deliverables made under the previous contract will be returned to SRT, but remain in-country under SRT's local installation partner's custody." This could be read as the customer returning the kit to the local partner. Either way, the result is the same. More inventory - or was this the same inventory from the Indonesia contract ? | fft | |
18/7/2018 07:28 | c5, as you say "if all goes according to plan". This has been the problem with SRT over the years. Not much has gone according to plan. USA, Indonesia, Now the Philippines. Before that it was Russia, inland waterways, EU mandates etc etc. It has all looked good in theory, but the revenue has been lacking. Whether that is the fault of the company or not is irrelevant. | fft | |
18/7/2018 07:28 | fft I doubt that SRT have sent the kit to the customer, but that it is still in boxes at their agents, much as in Indonesia. I also doubt that any actual contract was signed, so there is no cancellation as such. A 'contract' was awarded, no doubt, as in being told that they had won the tender, and I have no doubt that it will be once they go through the process again. This was required by the NEDA board which insisted some time ago that the expanded project be subject to what they call the Republic Act. This more or less stipulates the procedures for tendering and possible exceptions to open tenders. SRT either did or should have known about this, but presumably wanted to wait until the last possible moment to see if a rabbit could be found. | lavalmy | |
18/7/2018 07:27 | It sounds a bit like beggars can't be choosers and the other party is holding all the cards | davemac3 | |
18/7/2018 07:24 | This is all more than a bit whiffy | orinocor | |
18/7/2018 07:22 | oh no not again! another buying opp coming up. | hjb1 | |
18/7/2018 07:22 | Clearly ST was not happy to have to make this statement, which offers some important detail. The following, I believe, gives a hint that the country in question (Philippines?) is in the process of rolling out many substantial projects. 'our customer with whom we are building a long-term relationship that we expect will yield multiple significant contracts'. SRT had no option but to work with the S E Asia government. Will shareholders focus on the big picture or will they try to sell because of the loss on the previous year? Money that should have come in last year will roll into this year, if all goes according to plan. For those shareholders who buy into the SRT story, and have spare cash, today may be a heaven sent opportunity. | countryman5 | |
18/7/2018 07:19 | No wonder accts were delayed as they hoped to find a way round this. It also explains the lack of RNS as the company didn't want to admit how risky it was. ST used to say that all contracts were funded by the customers, but again, it looks like SRT have sent out the kit without having any cash from the customer. Lets hope it gets signed off in the next few months or another cash raise may be in order. | fft | |
18/7/2018 07:17 | Cancelling a contract should incur some financial penalty. Is it 100% certain that SRT will still get this contract? | davemac3 | |
18/7/2018 07:13 | Whoops. They got caught out this time. At least they will be able to start out with a clean slate accounting wise this year, which they were going to have to do anyway with the adoption of FRS15. One nil to the auditors. As long as it doesn't affect the cashflow (and they have lined up some export finance), this will probably work out fine, especially as memories are short and this year's figures will be 'flattered' by having propery accounted revenues for once. | lavalmy | |
17/7/2018 08:47 | LaVal, many thanks for the info,.. appreciated! Yes I did Know the 'big boys' had to pay something, but didn't realise it was that much.Yes, they certainly will be happy to pay £17 per day. | hjb1 | |
17/7/2018 08:28 | hjb I am sure that you know that the big boats had to pay $1,000 per day for a foreign observer when they were fishing in High Seas Pocket No 1. Perhaps they are delighted to have the agreement of other signatories to the Western and Central Pacific Fisheries Commission that they can use Philippino observers at £17 per day, which in itself makes fitting a transponder and paying for a small amount of airtime look paltry. This observer programme is all about Pocket No 1, where many of the pacific tuna grow to maturity. The Philippines is the only country allowed to fish there, and only with quotas and other restrictions. Why them? Because they have agreed to implement certain measures in their own EEZ where the tuna spawn, thus creating a bit of a win/win situation. Hence the observers being required on Philippino boats catching tuna in their own waters. | lavalmy | |
16/7/2018 20:12 | Hi hjb1, …"that's when the problems start, when boat owners are told they are expected to pay!" Having accepted that certain problems are inevitable, I suppose we shouldn't profess surprise or complain.....;-> No rain, no rainbows. ATB | extrader | |
16/7/2018 19:21 | that's when the problems start, when boat owners are told they are expected to pay! | hjb1 | |
16/7/2018 18:25 | Not really, hjb. I think that most of the stuff is copy and paste of the overall fishery rules that were previously published, again in draft. This time, I think that there is a legal requirement for consultation hence publication, but I doubt if they are actually expecting any feedback and will go to implementation - which in itself is a slowish process, given the time periods envisaged for compliance. However, the Philo 2 project is firstly infrastructure, GeoVS hubs etc that have already been booked, RADAR and CCTV etc which are to come. Lastly come the transponders and observers kit. This part is what they are prepping with the draft rules. Of course, it may just be coincidence that they are doing it now, but it seems to me more likely that whatever bureaucratic hold-ups there have been are now resolved. One thing I thought interesting was that the BFAR will now decide on whether and how much users should pay for the kit. Last time, the onus was firmly on the boat owners. They keep that stance for the observers, presumably because those boats are much bigger hence can afford to pay. | lavalmy |
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