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 Shares Traded Last Trade
  0.00 0.0% 35.25 96,955 08:00:00
Bid Price Offer Price High Price Low Price Open Price
34.50 36.00 35.25 35.25 35.25
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 18.91 -6.90 -3.93 58
Last Trade Time Trade Type Trade Size Trade Price Currency
16:28:12 O 10,000 34.85 GBX

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2021-06-18 15:28:1334.8510,0003,485.00O
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2021-06-18 11:31:0934.8920,0006,978.00O
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Srt Marine Systems Daily Update: Srt Marine Systems Plc is listed in the General Financial sector of the London Stock Exchange with ticker SRT. The last closing price for Srt Marine Systems was 35.25p.
Srt Marine Systems Plc has a 4 week average price of 33p and a 12 week average price of 28.75p.
The 1 year high share price is 45.50p while the 1 year low share price is currently 28.75p.
There are currently 164,251,939 shares in issue and the average daily traded volume is 134,060 shares. The market capitalisation of Srt Marine Systems Plc is £57,898,808.50.
alter ego: Another link for the Guardian, this time the use of Blockchain to guarantee the provenance of fish catch. Imagine if SRT added Blockchain to their name. Surely that would give the share price a boost while we wait for the contracts to be signed :)) hTTps://
pinkfoot2: Bones It does have some echoes of SCE but on the latter, the global market was proven and is dominated by one player in Brembo.We have yet to see the SRT market as evidenced by the regular chat about the VSP. SCE also had a very low market cap but took off with contracts.SRT market cap anticipates contracts already in my view. The key difference for me therefore is the marketplace.We know the brake market in cars is vast and ripe for a new entrant, particularly with EV where weight is everything.What we don’t know in the SRT marketplace is whether it’s as big as made out. One other thing-SCE raised a lot of money on the last placing, basically hugely oversubscribed, and essentially to create more capacity for existing and expected contracts.SRT has continually raised money to fill a hole in cashflow.There is a big difference between the two. We all want SRT to succeed-British company etc.But it needs to break through the hope
countryman5: Things to look forward to:- Recent Finncap update (They would have seen detailed paperwork). Three ME systems contracts, including Saudi ($50 million?) and four Asian opportunities, with a total of £125 million, spread over 2.5 years. Covid has put the brakes on Indonesia and Vietnam, but the world is returning to spend.Philippines fisheries due for completion this year but do not underestimate revenue stream going forward. SRT buys in data from satellite and sells it on. I am sure that SRT will be fair but BFAR will have to pay. Likewise any upgrades will have to be with SRT. What a joyous relationship. Other system wins will provide similar ongoing revenue streams. The stockmarket will love this visibilty of earnings. They call it 'Gold bars'. A fast growing company, with the 'economic moat' of a globally unique product, will warrant a PE of 30. Transceivers. Finncap predicts £10 million of T/O pa. I suspect that this is a serious under estimate. ATON's have been a slow burn but the opportunity is gigantic. The ATON has good margins. The digitisation of navigation plays towards the ATON. There are 100,000 of marker buoys around the world but only 2,000 have an AIS ATON. Look at the Suez canal. They need a host of ATON's to prevent a repeat of recent accident. ATON's will identify safe wind speeds and also record speed of ships. ATON's will identify future pollution spills. I am hoping for a Suez ATON contract!!!! The US is spending vast amounts on infrastructure. Inland waterways all need ATON's because these waterways are the arteries of trade. SRT new transceiver business. Still under wraps. I suspect that institutions, like PI's are waiting for contract news , before buying into SRT. Institutions need a minimum of £5 million to make an investment worthwhile. The good news for institutions is that when they decide to buy the share price will have rocketed and they will need to buy a lot less shares in order to invest their initial stake.!! Happy days at last for the long term holders.
alter ego: But SRT's USP is that the client owns the data not SRT. This gives clients the confidence to allow SRT to operate their systems. I doubt SRT would be interested in selling data they have gathered on behalf of a client to anyone else as it would destroy the trust the existing arrangement creates. There's plenty of data sources out there. It's how it is used that creates a business proposition. SRT have spent years developing a very sophisticated set of analysis and display tools. Not easy for a relative newcomer to replicate.
bones: What seems to be clear is continued scepticism from the long term holders and non-holders as the boy has cried wolf too often. Should the mythical contract land in the next few months, we can at least expect a catapulting share price on the basis that many are offside that expectation!
countryman5: I suspect that the major shareholders here understand the potential of this business. The potential is defined by the dedicated management and the unique product offering in a global market where there is a perception of future demand. I suspect that these same shareholders are more than happy to award shares to directors at a cost of 32.5 p when the share price exceeds 200p. The main reservation would have been cash burn, prior to the award of major systems contracts. With the confirmation that the bank is now happy to lend money without any security, the concerns about new shares being issued at a discount have dissipated. I am now expecting the share price to move to 85p when the next two major contracts are in the bag. I await comment from Simon Thompson of the Investors Chronicle.
alter ego: well said Countryman5. There are plenty of stocks with "potential" but making losses which have exalted market caps. SRT is not one. The market demands tangible revenues/earnings. Fair enough, a different attitude applies even if it begs the question why is SRT's potential not given any value. On the projects side, SRT has spent years developing the products and the relationships with "hard to please" customers who realise they need what SRT can supply but don't know how to define the solution. It's not like selling standard units; solutions are bespoke and detailed. For shareholders and management, the time required to agree a contract is frustratingly slow but given the efforts made by all the parties, are these projects likely to fizzle out? Covid has undoubtedly thrown a spanner in the works but I'm sure that the good folk at MSN are not twiddling their thumbs. We have all been patient for many years but during that time SRT has built an offering that places the company in pole position to satisfy needs that are increasingly obvious and of growing importance. Investors who don't have the patience to wait for the reward have plenty of other choices in the market.
countryman5: How do you value AIM stock SRT? The obvious answer is to look at the share price. This is what the market says the Company is worth. However, like many companies, the share price is a yo-yo. There is no serious research done and sentiment is driven by numerous factors, including 'fear and greed'. The SRT share price is also influenced by Simon Thompson of the Investors Chronicle. He has a good track record and a strong following. I predict that when the long awaited Middle East contract ($40 to $50 million?) is announced it will be followed by a Simon Thompson update. The share price will then be between 50 and 60 p. After several days the share price will start to drift back. However, if a similar contract is announced within a short period of time the share price will have a leg up to about 80p. If such an event happens then Simon Thompson becomes irrelevant because 'momentum' investors take over. What are the fundamental strengths of this company? Dedicated and enthusiastic management who appear able to choose a good team. Little debt and sufficient cash in bank. Validated Sales Opportunity Pipeline (VSOP)of about £550 million. Market ridicules this but this figure will have been validated by Nomad. No pension liability. The Warren Buffet 'Economic Moat'. This means that the company has a unique offering that can not be easily replicated. The Geovs system is the hub of the company's Marine Domain Management (MDM) system. The Geovs system is constantly upgraded with numerous layers of software. This system receives all of the information feeds (AIS, CCTV, satellite, radar, fish catch reporting, etc) and slices and dices the information so that the operator is presented with all of the critical alerts and information. The Geovs facility puts the Company in a unique position when global contracts are tendered. The Company has also built up a world class reputation for quality and service with its AIS transceivers. It has its own growing brand called EMTRAK but it also sells to others such as Raymarine. This part of the company produces sales of about £8 million PA at about 45% margin with growth about 15% pa. The great potential of the company is the VSOP of £550 for MDM contracts. As mentioned above, this is ridiculed by the market. However, if and when contracts start to be delivered the company could easily be producing T/O of £70 million PA with an operating profit of £20 million. How do you value a fast growing company delivering such numbers? Another thought. There are a few investors here who collectively own nearly 50% of the company. I suspect that they have placed their bets following detailed meetings with management and these investors share the vision of the future. They currently like the AIM tax advantage for inheritance tax purposes. Currently no tax to pay. The Chancellor might reduce or remove this concession in the future. On the other hand inheritance tax might rise from its current 40% level. A final comment. This Company is not standing still with its R&D. We have been told about a completely new product , which will probably take several months to come to market. The established 'Aids To Navigation' (ATON) device is at last gaining traction and has been incorporated in a 'Turn Key' solution for monitoring ports and inland waterways. This system has only recently been launched but has enormous potential
countryman5: I have been a supporter of this company for several years. I know nothing about boats. I was introduced to the company via my stockbroker. I liked the management and I thought that the product had great potential. Investing is always a gamble but I believe the path that the company has trod has been very fortuitous. The purchase of Geovs was the foundation of the 'Systems' business. I recognise that Mr T regards the company as his own. This shows a commitment but I have always found him accommodating to his fellow shareholders. I don't know of any other company where the CEO opens up to questions on a regular basis. There are many start out companies that are losing vast amounts of money each year but nevertheless have fancy valuations based on the assumption of future growth. This company started with creating the hardware of AIS modules. It has grown Emtrak as its own brand and developed ATON and is now developing a completely new device which will come onto the market in a few months time. They appear to have acquired some very clever 'boffins' which keep developing new technology. This side of the business, including OEM sales to the likes of Raymarine (currently supplying the US coastguard)provides annual revenues that underpins the company overheads. Sales are growing about 15% PA with margins of nearly 50%. The purchase of the Geovs system provided the platform to bolt on layers and layers of software that gives the company the 'economic moat' for the 'systems' business. This business has the potential to provide enormous revenues with generous margins. The starting point was Bahrain. I suspect that it was the personality of Mr T that persuaded Bahrain to be the first Country to gamble on the SRT system. It was a gamble for Bahrain to buy this system. However, it appears very proud of its purchase and has become the shop window for the SRT system. It appears that all of its neighbours, Saudi, Kuwait etc are going to buy the SRT system and then share information. I don't think the market has woken up to this. The other major triumph for Mr T was persuading the philippines fisheries (BFAR) to buy the SRT system. The first SRT system is currently being installed / commissioned and there is huge potential for follow on contracts, not only with the Philippines but also their neighbours. The driver for the fish monitoring systems is the EU. The EU buys a lot of fish from SE Asia and does not like illegal and unregulated (IUU) fishing. A red card means no exports, hence the need for the SRT system. SRT claims that it has the potential order book for £550 million. Some of these are near term opportunities and some more distant!! Why should countries chose the SRT system? Basically the answer is cost and reliability. The SRT system primarily uses AIS and land based transmitters. Other competitors rely on expensive satellite systems, including iridium. The clever Geovs system collates various information feeds, such as radar, satellite and CCTV. It then 'slices and dices' the information and issues alerts to the operator if something appears illegal. The Geovs system is constantly being upgraded and now includes fish catch reporting. My wife suggests that I have 'rose coloured' spectacles with regard to SRT. I genuinely believe that we are on the cusp of an enormous break through with imminent announcements. I am well aware of the 'jam tomorrow' comment and recognise that PI's have been waiting a long time
goodapple: While we languish in lockdown awaiting news of contracts, some interesting browsing re the AtoN market in which SRT has been active for some years now. Countryman5 has often referred to the potential for this segment of the business, so he will no doubt be acquainted with this particular customer of SRT. SEALITE is the global leader in the design and manufacture of marine aids to navigation equipment with manufacturing and office locations in Australia, Singapore, the United Kingdom and the United States, as well as distributors servicing over 100 countries. Their website - - gives a fascinating insight into the scale and complexities of their business. Amongst others they are suppliers to the US Coastguard and Trinity House. They are doubtless the conduit for SRT’s ambitions with these particular end customers. Sealite incorporate SRT’s transceiver modules into various products as well as stocking the complete AtoN which we would recognise from SRT’s literature. Anyway, it is well worth signing up for their Newsletter which gives some indication of current market developments. In particular the recent edition gives notice of an upcoming webinar on the Monitoring and Asset Management of AtoN. I trawled back and watched Webinar3, presented by a gentleman from US Coastguard which gives a fascinating background to AtoN and the enormous potential that AIS AtoN has for the delivery of information and data. Well worth a look, and some reassurance that we are just at the beginnings of a long upward curve for this particular segment of SRT’s business. Countryman5: I’m sure you know this already!
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