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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 | Shares Traded | Last Trade
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|---|---|---|---|---|---|
| -0.20 | -0.34% | 59.00 | 148,060 | 08:11:43 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 58.00 | 60.00 | 59.20 | 59.00 | 59.20 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Communications Services, Nec | 14.82M | -13.65M | -0.0546 | -10.81 | 147.99M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 16:11:39 | O | 25,000 | 58.311 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 08/4/2025 | 07:00 | UK RNS | SRT Marine Systems PLC Live Quarterly Webcast 8:00am 9th April 2025 |
| 02/4/2025 | 14:15 | UK RNS | SRT Marine Systems PLC Issue of Equity |
| 27/3/2025 | 14:26 | ALNC |  EARNINGS AND TRADING: SRT swings to profit; CML expects flat revenue |
| 27/3/2025 | 07:00 | UK RNS | SRT Marine Systems PLC Half Year Trading Update |
| 26/2/2025 | 14:08 | UK RNS | SRT Marine Systems PLC Issue of Equity |
| 20/2/2025 | 07:00 | UK RNS | SRT Marine Systems PLC Response to reports in Philippine press |
| 03/2/2025 | 14:22 | UK RNS | SRT Marine Systems PLC Issue of Equity & Total Voting Rights |
| 29/1/2025 | 07:00 | UK RNS | SRT Marine Systems PLC New System Contract Signed |
| 23/1/2025 | 14:12 | UK RNS | SRT Marine Systems PLC Result of AGM |
| 16/1/2025 | 15:46 | ALNC | TRADING UPDATES: CAB Payments eyes cost cuts; Niox shakes up board |
Srt Marine Systems (SRT) Share Charts1 Year Srt Marine Systems Chart |
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1 Month Srt Marine Systems Chart |
Intraday Srt Marine Systems Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 21/5/2025 | 12:33 | SRT Revenues-Future Opportunities & Drivers (SRT) | 15,962 |
| 10/7/2020 | 09:17 | Software Radio Technology-global AIS growth company | 9,355 |
| 17/3/2017 | 14:28 | dickie3times | 6 |
| 13/8/2016 | 13:28 | Software Radio Technology | 6,306 |
| 14/12/2015 | 20:37 | Listener tip of the week is an award winning tech small cap with, "50% upside" | 5 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 15:58:47 | 58.31 | 25,000 | 14,577.75 | O |
| 15:11:40 | 58.26 | 275 | 160.22 | O |
| 15:04:27 | 58.96 | 37 | 21.82 | O |
| 14:56:39 | 58.60 | 2,052 | 1,202.47 | O |
| 14:43:00 | 58.60 | 3,153 | 1,847.66 | O |
| Top Posts |
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Posted at 23/5/2025 09:20 by Srt Marine Systems Daily Update Srt Marine Systems Plc is listed in the Communications Services, Nec sector of the London Stock Exchange with ticker SRT. The last closing price for Srt Marine Systems was 59.20p.Srt Marine Systems currently has 249,982,656 shares in issue. The market capitalisation of Srt Marine Systems is £147,489,767. Srt Marine Systems has a price to earnings ratio (PE ratio) of -10.81. This morning SRT shares opened at 59.20p |
Posted at 28/3/2025 08:15 by deltaham Baynet. As you requested:• First-half revenue up fivefold to £26.2mn • Gross profit rises six-fold to £12.1mn • Adjusted pre-tax profit of £2.8mn reverses loss of £4.6mn • Potential to deliver full-year revenue of £84mn Aim-traded SRT Marine Systems (SRT:58.5p), a global leader in technology used to track maritime vessels, has returned to profit in a big way. SRT’s systems business, which provides a sophisticated marine domain awareness (MDA) integrated AI-driven maritime surveillance system to sovereign agencies such as coast guards and fishing agencies, generated revenue of £21.7mn at a healthy 46 per cent gross margin in the six months to 31 December 2024. This was derived from four separate contracts, three of which were follow on projects with existing customers. One is a new customer systems project worth $213mn (£165mn) for delivery of an integrated maritime surveillance system for the Kuwait government (‘A marine technology company building momentum’, 7 October 2024). The big news is that the €167mn (£139mn) MDA system contract with Bakamla in Indonesia, which was awarded in May 2023 and has been awaiting the completion of a UK to Indonesia inter-government loan, is now set to commence shortly with first deliveries scheduled before the financial year-end (30 June 2025). Analysts at house broker Cavendish estimate total implementation revenues for the Kuwait and Indonesian contracts will be more than £260mn over the next two years, accounting for the majority of SRT’s £320mn order book. If all goes to plan, the systems business could generate revenue of around £75mn for the full year and be ‘significantly profitable’ in the 2025-26 financial year with further earnings upside from conversion of a £1.2bn pipeline of contract opportunities. Cavendish expect to release forecasts for both financial years as soon as the Indonesian contract commences, but it’s clear to me that SRT should be able to deliver more than £100mn of revenue in the 2025-26 financial year when the Kuwait and Indonesian contracts are both up and running. Even if gross margin dips below 40 per cent, it still implies annual operating profit of £20mn. SRT has a market capitalisation of £146mn and has current net debt of £4mn, so even after a 27 per cent post results rally in the share price, the company’s enterprise valuation could be as low as 7.5 times likely operating profit in the new financial year. The 75p target price I outlined when I suggested buying the shares, at 48.5p, ahead of the results (‘A technology stock gaining momentum’, 16 January 2025), is looking increasingly conservative. Buy. |
Posted at 31/1/2025 09:29 by wizard2020 Hi AE. Me trimming my holding is exactly about long term prospects on a risk reward point of view. There has been a significant improvement in SRT's prospects but the share price reflects that. As someone who has been involved in the markets since 1971 the biggest mistake is to be emotionally involved. I have been invested in SRT for over a decade - not really 'a quick buck'. Any analysis of long term prospects has to be judged against the share price movement. I am still an investor and a fan based on analysis and some of the great posts on this forum but I favour balance - it has been said no-one went bust taking profits and incidentally through trading SRT over the years I am on zero base cost. |
Posted at 29/1/2025 08:17 by countryman5 What is SRT and where is it going?This piece is full of questions, with very few answers! It is provoked by three things. Oliver Plunkett replied to a question at the AGM, as to where is SRT’s competition. I paraphrase by saying, ‘possibly in China’. Secondly, the pace of change in the armaments industry. Many of the old technologies, such as tanks, are useless. A very expensive bit of kit can be taken out by a low-cost drone. The Ukraine war has changed everything. Thirdly, Chinese EVS are in a league of their own, both in terms of cost and technology. Tariffs can only be a short-term fix. China is going to own the market, goodbye every other country. For some obscure reason, the world has allowed SRT to be the global leader in maritime awareness technology. I suspect that Simon and Neil keep pinching themselves and asking why. Every passing day allows them to dominate a market which has the potential to be worth billions, if not trillions. Cannot some clever person create an AIS module the size of a Bitcoin? On the other hand, how many countries would allow a Chinese made module to control their shipping? Are autonomous ships on the horizon? I think not. Ships will need large engines and engineers for many more years. There can be no doubt that maritime technology and data will proliferate, but that fits squarely with SRT and Geovs. I sometimes wonder whether we appreciate how clever Geovs is. I remember Simon saying how much data is produced by one rotation of a radar scanner and Geovs consumes it all and delivers it in a simple form to the operator. When SRT won a systems contract for $30 million, this was thought to be a game changer. The company now has a contract for $200 million and the reality is that contracts will keep increasing from $500 million to $1 billion. What do Palantir and Anduril think about SRT? How would SRT utilise $500 million of capital, if it was offered? How does Anthony Clake view the future of SRT? Does he see more potential in SRT than Ocean Infinity? There are potentially numerous providers of Ocean Infinity products, but is SRT unique? |
Posted at 26/1/2025 12:00 by lavalmy Back and thawed out in sunny southern Sicily to a very welcome 21ºC.Firstly it was great to meet up with fellow shareholders and management and other staff. I don't have any worries about OI's position. SRT's period of vulnerability would appear to be over and the disposition of the other large shareholders would seem to counter-balance OI's stake and then some. On that subject, a person closely connected with a large shareholder was musing about where the share price might eventually end up and it made C5 sound like a pessimist. There was also the comments from ST about where the company will be in 20-30 years time with neither himself and Neil active - not quite a succession plan, but an indication. There was also a firm resolve and belief that no further warrants would be issued. So I lose no sleep about it. As has been mentioned, we await the commencement of the Bakamla contract and concommitant broker's note within a few weeks. I suspect that the current share price belies a lack of faith that it will go ahead, so when it does I expect significant action. Simon did mention that it will take performance to overcome the company's reputation as a serial misser. And that some institutions' interest was mildly piqued by the unexpectedly good half year results (as I was). We will see how long it takes. Apparently the broker was there. Did anyone talk to him? Apart from getting the other UKEF cover to substitute for OI's guarantee, I don't expect any further news before financial year-end. Simon was clear that projects have to go through budget processes and that at the earliest others would start next calendar year. That doesn't mean that they would be entirely invisible to us before that, of course. I also think that Kuwait doesn't seem to operate under quite the same rules and happens more at the whim of the ruler. And there they are trying to ensure that there is a sufficient period between the project being signed and actually commencing so that UKEF has the time to issue cover. The impression I got was that they expect to be able to charge more for projects once Kuwait is up and running. Overall project margins do and will continue to depend on the amount of civil work entailed, but they hope at a higher level. Here OI comes in handy as does the fact that it is SRT opening doors for them rather than the other way round. OI's offering is not easily compared to others like construction costs and SRT sees potential upside from including OI's rather unique robotics in SRT-led projects and increasing their margin that way too. |
Posted at 24/1/2025 18:19 by integer Countryman - On the point "HOWEVER, OI wants to eat SRT as soon as possible (despite saying in public that it would wait two years!.)"This may well turn out to be true but I assume it's a personal opinion? How OP responded during the meeting to the question do you want to buy SRT was (according to my notes): "No, I would feel quite ill, as in 2021 we bought 3 companies and I still feel stressed about it. Our investment in SRT was for two reasons. Collecting marine data and for SRT to visualise it for customers/coastguard |
Posted at 24/1/2025 16:09 by owenski ST did state at the end of the presentation I think during Q&A that revenue payments were coming in and cash and they wouldn't need to raise. Important to hear that.Also, looking to target ROCE of 25% and growth rate of 20% P.A..... That gives a flavour of where their profitability will sit. Gross margins on projects in the 20's up to 30% Margins on AIS side including X100 in the 40 - 45% region, with AtoN sitting as an outlier at 80% DAS as a standalone business is ongoing, with port authority demands seen as a growth area, Louise has a lot of input in developing a package of items including a kind of Geovs approach to utilising the data, this seems to be shaping up to be an area of project activity rather than just selling a few AtoNs. OP from OI is impressed by what SRT have actually built from scratch, enough obviously to take a stake including punting his own money, there are synergies between the two companies and the ground work that SRT have done seems to open doors for OI to be involved, also, OI are a data centric company and thus have a natural fit to SRT's Geovs core offering. OI's stake and board position in SRT seem to be a really interesting part of this journey. To outsiders, SRT has been a serial disappointment, however, SRT now has multiple projects running - currently over $200m - and is now in a different financial situation, the wider market is not up to speed with the situation here. OI came up with 21m to fund the Kuwait bond, everything moved at such speed - unlike the usual historic SRT government signing grind - that SRT were unable to raise the money elsewhere in the time scale. Kudos to OI for the support, the UK gov. really doesn't have the vision or nimbleness to support these companies, a lot of noises and little action. Without OI stepping up, I'm not sure that Kuwait would've been lost, but it sounds like a massive delay would've occurred. It feels like Kuwait is quite a showcase project and SRT's reputation could possibly have taken a dent if it had not proceeded at the required customer pace. Think this project is going to showcase SRT and so is critical. Countryman bangs on about all things SRT like he's their PR guy - good for him and good to meet up with him again - he's often said about others looking in on Kuwait and wanting to keep pace with what they have, actually, it's sounding like he's on the money here. In my view, the next catalyst for the share price is likely to be Indo spades digging the ground, think the market is going to start waking up especially when the brokers note is out with a couple of years of hard figures and over $300m of contracts under way. Estimates are for broker note issued in Feb. therefore Indo likely to get UKEF finalised within late Jan. early Feb. - we shall see. Slow roll out on X100, they really want to get this right and so are widening the beta testing pool in the real world marine environment to make sure all works well, good to meet the project guy behind this and access the thinking wrt quality etc. Personally, I don't think SRT are jam tomorrow anymore, I told Oliver about the pots of jam on seats at a past AGM, he thought it was hilarious. Great day out, good to meet the SRT team and shareholders again, thanks to AE for his excellent write up, just my two penneth worth. |
Posted at 24/1/2025 08:11 by countryman5 AGM. Random thoughts.Good turnout, About 50 (excited) shareholders. ST in top form. New NED Oliver Plunkett, CEO Ocean Infinity, was there. He was surprised at the numbers in attendance. I suspect that he was even shocked by what he saw. He is obviously bright and there appears to be good chemistry between SRT and OI at all levels. HOWEVER, OI wants to eat SRT as soon as possible (despite saying in public that it would wait two years!.) OI has a problem. In effect it has set SRT free. Kuwait has given SRT the cash flow and credibility, which SRT desperately needed. A year ago, nobody was talking about Kuwait. The first stage is now up and running and Kuwait is VERY pleased. SRT and OI kit will be its new toy, its pride and joy. Kuwait likes to boast about things and Saudi is in the firing line. ST was giving hints about the potential of Saudi spend. I am expecting serious numbers (Four or five times Kuwait spend and Kuwait has only just started). O P admitted that SRT does not have a competitor, unless it is in China somewhere and he knows the enormity of the potential market. Oliver Plunkett said that he had bought SRT shares on his own personal account. How is OI going to capture SRT, together with the management team? The longer he leaves it, the more it is going to cost. I believe Macbeth said ‘If it were done when ’tis done, then ’twere well It were done quickly’. I think that Mr T knows he does not need to do a deal, any time yet. The long awaited Brokers note is still awaiting the start of Indonesia. Did anyone hear the potential size of the Indonesian fisheries? I believe it started with a five, and it was not $50 million. We have no serious institutions on the shareholder register but the brokers note will probably make some desperate for a slice. OI and institutions face the same problem, where can they buy shares? In the unlikely event that SRT needed more funding, there will be a queue of potential buyers at well over a pound. I suspect that this morning Oliver Plunkett is trying to decide how to win SRT. Good luck with that one. Every day that you leave it, SRT gets further away. |
Posted at 23/1/2025 16:15 by alter ego Just arrived home from the AGM. As ever it was very informative and certainly worth the effort folk made to attend. One person I spoke to said he thought SRT were very unusual in allowing shareholders unfettered access to employees to ask whatever they wished. Answers whilst avoiding sensitive information were genuinely useful in forming a view on how things are going. It was good to put faces to some of the names here and I think I persuaded a lady from Cambridge that joining ADVFN would improve her knowledge of SRT more than the message board she was using. Please excuse any inaccuracies in what follows but I have tried to recall as much of what was said as possible from hasty jottings. Anyone else who attended is welcome to add to or correct what I have said.I started by trying to find out more about the launch of the X100 (Nexus). Initially it will be an EmTrak product hence X100 not Nexus. In time OEM’s are anticipated to include it in their offering but the strategy is to get a substantial user base who think it is a marvellous product. Marketing is planned via 5000 or so dealers so SRT will ensure they know what the X100 can do and they will have their own customer base into which it will be sold. Sound quality has been a top priority in the development of this product to ensure it performs better than anything else on the market. The actual product is constantly being tested by a small cohort of real boat owners who supply SRT with feedback on a weekly basis which allows for tweeks if there’s anything they would like to see done differently. The X100 has inbuilt MOB (Man Overboard) unlike rival products which tend to be standalone and often not used because it’s too inconvenient. Software updates are simply done by feeding the update to the mobile phone or watch and then to the Transceiver as soon as they connect. Early feedback is that users love the convenience of the connectivity and the ability to use the radio via their ‘phone or smart watch without any delay. The overwhelming impression I got was that SRT are very pleased with the market response, eg at METS, and the volume of pre-orders exceeding expectations. I was told more than once that there is nothing on the market that can match it. A very limited production run has begun and is expected to ramp up gradually once everyone is confident that the user feedback will be highly positive. They do not want any disappointment hence the controlled, cautious early production. Kuwait required pretty much immediate mobilisation and staff were called upon to work over the Christmas period to meet customer expectations. ST said he met no pushback to this request which demonstrates to me the commitment and unity of staff to the collective goal. The customer was very impressed and this has boosted SRT’s reputation in the region. Some existing structures are having to be used for control centres and towers because they exist not because they are ideal. Building new ones takes time but this approach gets things up and running earlier. They even have a mobile control “room”, a van full of servers that can collect data from remote locations and feed it into the system until more permanent arrangements are put in place. OI will provide underwater and surface level autonomous vessels/drones. With the advent of drones and unmanned aircraft decisons will have to be made about how high surveillance needs to go. Oliver stated that the sea is a very challenging environment for this equipment and the customer needs to understand that things may not work perfectly from day 1one Internet provision is less than ideal and there is no broadband as we know it at present. Satellite communication may be needed, eg Starlink. Clearly Kuwait is at the start of a journey which will take years to travel. I asked about Indonesia and EKEF financing. The loan has been agreed in principle with Banco Santander (in Spain) providing the money. It will be released in stages as SRT raise invoices for each delivery milestone. I got the impression that we are just weeks away from the start of the project but everyone here has learned to wait for the confirmation rather than the expectation. The question of the effect of inflation on the fixed project cost was raised. SRT build in a contingency to costs which mitigates this. It is also the case that much of the Dell servers and desktops were acquired earlier and at lower prices. It was estimated that roughly 40% of the total project cost is shielded in this way and ST thought that the contingency allowance would suffice. It was said that Indonesia are already talking about what they would want in the future as there is no Fisheries component in the project that has been approved. This underlines how, once a customer buys the system, it is normal for it to expand and evolve over many years. I raised the question of staffing needs as they have a long list of positions to fill. ST and Neil agreed that it is difficult to find the right people and have already employed a recruitment specialist with another needed to seek out candidates for the vacancies. Conventional recruitment agencies do not have the same focus. LinkedIn is where they expect to find the people they need. Countries are beginning to realise that they need what SRT can supply. Bahrain has suffered from depletion of fish stocks and because it has no means of regulating where and what can be fished it has imposed a blanket ban on fishing. In Saudi they are intent on creating an environment that attracts tourists under Project NEOM on the Red Sea (Dubai on Steroids was quipped). Here security, safety , water quality, fish and reef health are vital and SRT can enable the customer to achieve what they need. Proximity to Yemen, Somalia, Syria and Iraq presents risk that will have to be managed by KSA. OI were represented by Oliver Plunkett CEO of OI and our newest NED. Some investors enquired about the relationship between the two companies and the answers were reassuring from my point of view. At the most fundamental level OI can supply data that SRT currently doesn’t have but GeoVis can make sense of that data and present it to the customer, something OI cannot do on their own. That looks like a very symbiotic relationship to me where both parties see value added. Both companies have very similar cultures seeking to collaborate to make things happen. Each is pragmatic about how costs and profits should be divided. In the longer term Oliver said OI had not sought to enter into this relationship in order to take over SRT. Nevertheless, he was clear that things can change. ST expressed the hope that SRT would remain an independent company in 20 years time although he wouldn’t be its CEO. I took away the strong impression that there is no tension between these two entities. In reviewing future project opportunities ST was confident that SRT will be spoiled for choice given the rapidly dawning appreciation that countries need data to be able to manage their MDA. Someone asked about DAS and ST said that it was part of what SRT offered and would enable autonomous shipping on rivers to know if there was enough room to pass under a bridge or enough depth to avoid grounding. At sea it would warn ships of the state of the tide and currents so course corrections could be taken. Margins on the equipment are very high. Thanks to everyone who made this visit enjoyable. I look forward to the next one. |
Posted at 20/1/2025 02:30 by extrader Hi LaValmy,.."To be a bit picky, it is Ocean Infinity that is supposed to replace the cash collateral with a bank guarantee. SRT is then supposed to replace that with the UKEF and their own resources within the timescale you mentioned. Maybe OI has found it difficult to get a guarantee that does not require them to post cash collateral in turn. If so, the cheaper option all round would be to leave the position as is." Have you been told this by the company, pls, because the bit in bold sounds odd: it's SRT that has a credit issue and has to cash-collateralise its contingent obligation (and doesn't have the cash to do so) not Ocean (which evidently does have cash and/or adequate credit line(s) since it stumped up the money in the first place). I would expect the structure to have been as follows : (1) Client requires a PB to be lodged on contract signing; (2) Contractor normally arranges for his banker (Santander?) to issue the PB; (3) Banker is unwilling to do so (outwith Contractor's credit limit)and / or credit approval will take time); (4) Given urgency, Contractor approaches Ocean and gets a quick cash loan, with conditions attached; (5) These include loan int rate; fund-raise; repayment terms incl default (euphemistically, 'delay') penalties; (6) Ocean deposits $ 21.4m cash in escrow account (SRT/Ocean)with Santander, who immediately issues wholly secured PB; (7) The plan (see below) was for Santander to accept (i) a replacement of Ocean cash for an Ocean guarantee and later (ii) replacement of the Ocean guarantee by SRT's resources + another guarantee- from UKEF- as and when the facility becomes available. What's the reason for the UKEF delay? Cash is the best form of security, from a bank's perspective - it's what made a quick reply to this urgent need possible in the first place. It'll be slower to surrender for lesser security/more credit risk in a hurry.... The 16 Jan trading update confirms that there was still full cash collateralisation @ 31 December : .." Gross cash balances as at 31st December 2024 were approximately £4.5m, excluding $21.4m held in escrow.." This isn't what was supposed to happen, per the 28 Oct Finance Support Package RNS : .."The OI guarantee is initially provided as a cash loan of $21.4m with an interest rate of 0.75% per month. The loan is expected to be repaid by SRT with a period of approximately one month - 31 December is 2 months - and replaced with a bank guarantee on OI's behalf.[This wording doesn't make sense: SRT doesn't have cash to repay $21.4m, what it should say is that Santander will take an Ocean guarantee or (more likely, since it may not have a credit limit for Ocean) a *guarantee from Ocean's banker...and, on receipt of this substitute security, release the cash security back to Ocean. Not to SRT, that's why it was in an escrow account: to recognise Ocean's involvement and to protect Ocean's interest. The OI bank guarantee[* confirmed] itself will then be replaced within the next 6 months using a combination of SRT's own resources and UKEF export guarantee program. [ = replacement rate will depend on quantum available from UKEF AND SRT's free cashflow AND whatever extra credit- if any - Santander is willing to grant SRT in the meantime]. So it would seem that (1) Notwithstanding the above, Santander credit approval to substitute Ocean cash for Ocean contingent hasn't come through as at 31 December. I'd like to know why. Has its approval process been delayed by SRT's changing requirements for other contracts? If that's not the reason for delay, what is/was? Edit : See next post ! [There shouldn't normally be an issue at Ocean's bank end : it could send Santander a guarantee for $21.4m contingent on Santander's releasing to it the $ 21.4m ...and then deciding at leisure how much cash it would in turn release to Ocean. 'Cash is king' in credit matters.] (2) Point (1) needs clarifying, (a) because SRT is presumably still paying 0.75% per month for the loan; (b)more importantly, the loan has already run 2 1/2 months and if SRT/UKEF haven't retired the Ocean guarantee fully in (now) 5 1/2 months, the penalty kicks in: .."In the event that SRT does not replace the OI guarantee within 8 months, a further 4m warrants per month will be issued with a strike price equal to a 15% discount on the share price at the relevant time. This isn't quite a 'death spiral', but it does give Ocean some perverse incentives. (3) I think the point I raised on the 16th still stands : .."Assuming this sequence is broadly correct, could somebody ask Simon for an update on where we actually are with the UKEF facility going 'live'. We need answers on a number of basic issues, I hope someone at the Open Day/AGM will persist until we get them. GLA and ATB |
Posted at 18/12/2024 09:08 by countryman5 Close watchers of this small, but innovative company, recognise the momentum building within the sales of this AIM listed company, which has a unique position in global markets. Sales are being driven by numerous factors. Firstly, SRT has acquired a reputation as the reliable supplier of AIS products, which are increasingly sold by its own EMTRAK brand, with NEXUS about to deliver an addition to the offering. Secondly, Coastguards around the world all watch each other and they can see what is happening in Bahrain, Saudi, Kuwait and Indonesia. There is recognition that Geovs delivers something which is unique, and coastguards are badgering their political masters for some of it. Obviously, budgets have to be approved, but security invariably opens cheque books. Thirdly, as per the recent FT Moral Money article, countries around the world know that they have to monitor their fishing boats to secure their future fishing operations. The World Bank knows all about the SRT system and will be helping many countries prepare their budgets. The Philippines is not alone in having powerful vested interests inside their commercial fishing fleets, but countries will be warned and prepared about dealing with those vested interests. In the next six weeks a lot is going to happen. We will have the four contracts (Kuwait, Saudi, Bahrain and Indonesia) all fired up with Kuwait delivering to help with the first half figures. (December 31st). We will hear these results in early January, together with the much-anticipated brokers note, where TO / PBT for this year and the next two will be underpinned by the £320 million of signed contracts. The big unknown will be contracts joining the £320 million. I believe that the pace of Kuwait will follow into more work from that Royal family. The neighbouring Royals in Saudi will want to maintain their security, especially with what is happening in the Red Sea, and will want to match Kuwait. And then there is Africa, where fishing and security (China v US) is increasingly hitting the headlines. Nothing is being factored in with the Philippines, but eventually truce will prevail within the fishing vested interests and both BFAR and PCG will have pent up demand. In late January we will have the AGM, when it will be interesting to hear the present and anticipated head count. Growing the team is one of the greatest challenges with many key workers needing to be found and trained into the SRT way of doing things. will the share price be beyond £1 after the AGM? The company has needed an injection of funds which has resulted in a dilution of the shareholder base. This was unfortunate but necessary. We will soon have a 24% shareholder. If Indonesia had started delivering six months earlier, or if Kuwait had not started at such speed, such dilution might not have been necessary. One of the consequences of the dilution is that the LTIPS will need to be rebased. Our management team needs to be rewarded for their incredible achievements. The alternative is to use the fast-flowing cash to purchase shares in the open market, where there will be few sellers.I am anticipating a fast growth in T/O predicted in the brokers note, with an even faster growth in PBT, because of increased margins going forward. SRT will no longer have to offer free trials to countries. The message going forward will be ‘Join an orderly queue, to receive your SRT system.' |
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