Member Info for MikeGP

Aiming,
.. on a positive note,.... not much chance of a hostile bid being successful with the amount of shares in PI's hands.

Yes J,

.. and at the AGM,.. PF said they might raise money if there was a specific contract that required 'enabling' funds,... or words to that effect,... -- I think that they have just put that structure in place,..( over and above paying back the CULN--)....--- next few weeks will be interesting..... albeit we ahem been saying that for .... errr.... months!

Ozzie,...

I am sure that we will have been involved in the recent Port Security reviews in Saudi.... which we are naturally hoping will lead to the supply of tech kit, MSC's,..or ideally, both!

"West Africa’s growth which was 3.7%, from 3.4% in 2018 was 3rd. Ghana actually was tipped as the fastest growing economy in West Africa and second in Sub Saharan Africa with 7% growth."

https://www.ghanaweb.com/GhanaHomePage/business/East-Africa-beats-rest-of-continent-as-fastest-growing-region-AfDB-Research-853456

I'm out for a Comedy night,.... looks like it has started early!!

Snap!

CSK,

You appear to be missing the 63% y/o/y increase in sales?.... coupled with the statement stating that they expected a further year of significant growth in 2020,... with the first 6 months WIP and sales revenue anticipated to be in excess of the full years sales revenue for 2018.

Agreed, that the sp may not reflect that yet,..... ( which, arguably,.. presents a buying opportunity ).

... he was under no pressure to say that,.... he could have fobbed us off with on-going etc.,... near future,... final negotiations... etc,... but he specifically choose to say February.

20- odd working days and counting. Set your clocks again boys and girls... and let's hope that this time we have something to show for our patience!

With all the other irons in the fire,..some of which, at long last,.. show signs of bearing fruit... this could get very exciting over the next 3 months.

At the very leat we will get the Finals at the end of April,.. so 12 weeks away,.. that will show us in detail where we stand and put more bones on the 60%+ y/y sales increase and where we are in terms of EBITDA.

Exciting times. Just need the market to wake up. The sp was many multiples of this a few years ago, with far less revenue and potential on the table! ( less shares in issue to,. mind you!)

Best

h&n,

Agreed. February is February. IMHO ,.. he must have had the heads' up from MPS on some forthcoming meeting/discussions etc.,

Hmmmm,... something interesting in that article that I wasn't aware of:

APM Terminals 35% share in the project,...-- APM are in effect Maersk-... so attracting the new business and growth to the port once the remaining two berths are operational may not be as hard as I thought. You would assume that they would direct there own vessels to a Port that they have a 'share' in, whenever possible?

"The consortium Meridian Port Services (MPS) includes France’s Bolloré Ports (35%), APM Terminals (35%) – owned by the Denmark-based Maersk Group – and the Ghana Ports and Harbours Authority (30%)."

https://www.theafricareport.com/11234/ghanas-tema-port-flaunts-ambition/

Article date April 2019.

Foxy,

Found it. The article relates to the original Terminal only,... not the new Terminal;

Tema container terminal’s strengths

Main clients include CMA CGM, Maersk and PIL.
Traffic reached 836,000 twenty-foot equivalent units (TEUs) in 2018, representing 90% of Tema’s container volume. It is Ghana’s top port.
It is the third-busiest port in West Africa, behind Lagos and the combined forces of Lomé Container Terminal and Togo Terminal.
Tema’s weaknesses include the fact that it has a draught of just 11.5m and can only receive container ships with a capacity of 5,500 TEUs. The most modern ships have at least twice that capacity.

https://www.theafricareport.com/11234/ghanas-tema-port-flaunts-ambition/

Foxxy,....

I think I read somewhere that it was circa 840K,..... but can't remember where,... I'll need to have a feret around to find that source again.-- so take that with a pinch of salt.... and I'm not sure if that was 2018 or previous. Hence,... why I think the build up in volume at the new Terminals will take time,... having the capacity to process 3.5M TEU's is not the same as having the business!

Suspect it will take 1-3yrs to reach 1.5-2.0m/TEU's annum..... but that is still substantial income to WSG and as PF pointed out in the RNS,... the operational costs are pretty much fixed after the initial outlay,.. so the 'growth' in volume, goes pretty much to the bottom line.

.... oh go on Foxxy,... read the flipping' RNS! You know you want to!!!

Last week a new high was achieved in terms of the ships being serviced, 13 ships/week... up from the previous high of 12/week.

This follows two weeks which appear to have been affected by the deliveries associated with the build works,.. ..where one of the berths was in use for the 'Hua Hai Long',... and as H&N has pointed out a dredging ship has also been operational.

All very positive, for the 3rd berth becoming fully operational by the end of Q1,... so just circa 9 away.

Best

Friday 17th- Maersk Columbo and Atlantic Discoverer
Saturday 18th-Maersk Columbo and Atlantic Discoverer
Sunday 19th- MSC Perle and Sea dream
Monday 20th- Fresia Oslo and RDO Favour
Tuesday 21st- Maximos A and MSC India and RDO Favour
Wednesday 22nd- Maximos A and MSC India and RDO Favour
Thursday 23rd- Maximas A and MSC India and Season Dalian

Wk Fri 17th- Thurs 23rd- 9 ships serviced plus Construction vessel in port
_________

Friday 24th- Silvia and Venetia and Season Dalian
Saturday 25th- Silvia and Venetia and New Jersey Trader
Sunday 26th- JPO Virgo and Vivien A
Monday 27th- Kmarin Aqua and Safmarine Chilka and Bomar Regina
Tuesday 28th- Maersk Cadiz and Maersk Chennai and MSC Oriane
Wednesday 29th-Maersk Cadiz and Maersk Chennai and MSC Oriane
Thursday 30th-ALS Juno and Season Felixstowe

Wk Fri 24th- Thurs 30th- 13 ships serviced

hB... yes agreed. Monitoring the number of ships serves a purpose, in solar as it helps us to understand a little about through put and efficiency,.. but we don't have enough info to extrapolate that in to sales revenue.

I also think there is a political reason to down play any 'good' numbers at the moment. We can hardly swing fromnthe chandeliers shouting about how much money we are making whilst at the same time MPS are negotiating with the Port Authorities and government etc., pleading poverty etc.,

Like you,... I think it will all become much clearer once we get a couple of sets of finals under our belts. Hopefully there will enough in tomorrow's update to give us a little bit of a steer.

Best

h&n,.. shipping update tomorrow! Been a good week this week,... record number of boats serviced,..despite the dredging.

... I'm with you. Think we are circa £10M sales revenue for 2019. Fingers crossed.

H&N,

They appear to be the more 'standard' security providers,..ie perimeter/access,.... don't appear to have any specialism, or provide,.... in the baggage handling/scanning systems etc.,---- although the airport will already have contacts in that the regard with whoever supplies their existing kit and training.

Still,... might be a possibility to get involved for WSG.

shrewdun.

Agreed. The tech and training divisions are certainly growing and adding ever increasing sales revenue to the Companies coffers, ... as well as potentially opening up new markets for MSC's.

The synergy between the various departments and the opportunities for cross-selling is obvious for all to see.

Nice find h&n.

A timely reminder that there are a lot of irons in the fire at the moment.
Best