The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
And it’s worth pointing out that those 3 contracts are all supposed to be booked in 2023!…. So now that it’s 6 weeks in to 2023, does that mean revenues will now fall short of forecasts for 2023?…..still waiting for the H2 heavy revenues of 2022 to make good reading when Pete eventually comes out of hibernation… wonder what his excuse will be when we have another £6m year….. I am sure we will hit double digits for this year… unless of course it all slips in to 2024……. Along with all that additional revenue from Freetown expansion….lol….wakey wakey Pete, it’s nearly spring!!!. B
Morning…
Let’s remind ourselves what Pete said on the 1st Nov 2022…
We have previously advised that we anticipated the ratification process for the contract covering 5 airports in the DRC, originally announced in June 2021, would be concluded in Q4 2022 allowing for the project to commence at last. Whilst this has been a slow process, the Board believes this timing remains the case and recent events and activity add to our confidence that progress is being made. Should ratification occur pre the 2022 year end, we expect revenue will start to be recognised in early 2023.
In our interim results announcement, we also stated we expected to secure at least one more long-term, large-scale managed services contract this year and we continue to believe that to be the case. Whilst there is never certainty of timing or outcome of negotiations for such projects, which are complex and can involve various bodies, we have reached an advanced stage of negotiation with at least one such project. However, if signed, there would be little, if any, revenue recognised in the current year.
Further, a key part of achieving 2022 market expectations was the timely award of a multi-million-pound Technology project for the MENA region, which, whilst we still expect to be awarded the contract this year, we are now running short on time to deliver and recognise revenues in 2022, and accordingly, depending on when the order arrives, some of this revenue is now likely to slip into 2023.
Can someone remind me how much of that came to be true… or perhaps point me to any update that Pete has given as to when it will… otherwise I refer you to the subject title….. B
Just listened to the interview… so……….if it’s that simple that “it’s business as usual “, then Pete could have said so, the fact he hasn’t suggests it’s still not clear. Summa as the main contractor are now negotiating with current suppliers to bring them under their main contract with the government… and summa are being encouraged not mandated to keep them.. If I heard it right, the airport opens around Easter time, so that’s about 3 months for summa and Wsg to agree terms. That does explain the silence as Pete actually doesn’t still know the outcome…. but maybe just maybe, as the incumbent he feels some leverage…. but it depends upon what summa are willing to give up as they need their £250m quid back asap…. So… we wait…
Nice to hear from you foxy…. Hope STAR /TRAC is not giving you “the Petes”……….B
Yes……I have held shares for 6-7 years…. I have always said that as a shareholder, I have the right to call Pete out… I used to communicate with Pete, but once I questioned his strategy and performance, he stopped… he doesn’t like challenge, just like a number of peeps on here… I go back what has happened in the last 6-7 years… and I don’t have to make it up… Pete is underhand, a liar and a sponge off the back of genuine shareholders… he is everything that is bad about AIM… I could sell up and move on, but “why should I?”….. maybe I will once he has resigned…B
Me and geentee same person?….. it goes some way to explain why some on here don’t have a clue…
Looking forward to the next RNS….. B
Woodys… that is 2 years old….lol… B
Just observations RHT….. Pete leaving many blanks to be filled in…Peeps like you perhaps take silence as a positive… those who have been here for 10 years plus know exactly what it means… Pete always has to be brought kicking and screaming to the real world….sometimes he goes early to either shout to the world he has signed something or to raise funding… more often that “going early” is in reality a false dawn…. Just look at the number of contracts he has signed that have not been enacted… yet the funds to enact them have been taken from shareholders… guy is no more than a thief… But peeps like you can kiss his feet if you want…. Needs your type to fund his family…..
Have a good weekend everyone….B
Pete acknowledged that summa now run the airport … he had no choice… it’s out there in the public…..Pete has not said what that means for the commercial relationship with its new client and contract owner… so..
1)… does the terms of wsg existing contract remain in force to 2027?
2)…does the existing contract now cover the growth in footfall from the expansion?
3)….does a new contract have to be signed that carves up the footfall between old and new airport?
4)…. Do Summa kick Wsg out and compensate them for the remaining 4 years?
Or something else?
It seems odd that Pete has not had conversations with summa prior to todays change in owner/ manager/client… it is inconceivable that they don’t know what the expansion means to Wsg commercially or contractually….. I can only presume it’s not positive as Pete would have said something even if it proved to be false….B
Sneak this in…
https://sierraloaded.sl/news/summa-group-lungi-airport/
B
and lastly for the day…
Market says “meh” to the SL news… so it has decided that the news was not good for Wsg ( sp didn’t go up) but equally it was so vague… it wasn’t bad either
We wait…..
B
Bigears… you forgot:
vending machines.. nowt
Mango masks….. nowt
Menzies….nowt
B
Well I am going to give the cheerleaders the benefit of the doubt and say.. yippee!…Pete has come out of his cave because he had to…. The announcement that Lungi had changed hands was made public yesterday and he had no choice but to come out and slow clap…. Because his boss has changed. So…. I now look forward to the new additional revenue projections for the additional footfall that now falls within the existing security contract…..
Now Pete is due an update on the contracts soon and I am sure will be very open about how the new relationship’s with Summa translate to revenue….
It is clear that we are in a period where Pete will need to be in step with the announcements Summa make, so his cloak of misinformation will stop…
Looking forward to transparency at last…..
Happy days…..
B
Careers
Field Service Engineer (Xray/CT/EDS)
The Role
?
We are seeking technically motivated and customer-focused Field Service Engineers, responsible for the maintenance, service, installation, and breakdown repair of a wide range of sophisticated Xray, CT, & EDS Imaging Systems as well as a wide range of technical products. As a Field Service Engineer, you are required to be on-call, typically this may be 1 week in 4 but you should on occasion be prepared to do extra on call duties to cover absences, additional allowances and overtime apply whilst on call. You may be required to travel overseas on occasion.
How exciting…..B
Morning all…. Hope Pete is feeling well…. Probably writing those RNS now…..
DRC…. I am pleased to announce …..
MENA…. I am pleased to announce……
TEMA ….I am pleased to announce…….
KSA……I am pleased to announce…….
Oh… and finally, Placement to fund the above….I am very pleased to announce…….
Hat ready……
B
Oh… forgot to mention lungi!…. What’s happening there then?…do you really believe that Pete has good news under his hat?….he would have squealed by now!!!…..B
Agree misty… all this talk of “ bagging”… based on what?… let’s revisit the facts…
Tema…. Wsg are going to give it back as they have just announced after 3 years that they are not liked… suggests friction between the parties… business model questionable….
DRC… we have a contract signed in 2021 ( yep, 2021!)…. Pete says it’s still a goer… but DRC are slow… he stated in Nov that he had sensed positive movement and the ratification would happen within 8 weeks ( by EOY)… it’s now mid Jan and still silent… so why has Pete not tweeted that ratification is even closer …are we not due an explanation?
MENA… going to sign before EOY….. silence!
A further MSC…. Silence!
Revenues for 2022 being on target £10m?…. Pete used to give a Dec TU to confirm EOY… stopped doing it because he always misses
So… why should I expect this to bag?…..
We all know Pete has a tendency to “come quick”….. when good news happens….so why the silence if all is on track?… we’ll sort of on track ……
Liking on eBay for pointy hats…..B
RHT… lol…. You mean buy at 1p sell at 2p surely….B
RHT… what type of hat should I buy?. Look forward to the YouTube video …..B
As long as “the system” continues to give awards to folk like Fowler then more ceos will continue to lie and cheat their way to retirement off the backs of their shareholders. Pete knows he can continue his fairytale existence because “ he can”. Every AGM he gets voted in by some margin, (although I noted last year he got more “ against” than usual)and I do not know why. For a ceo who claims he has extensive knowledge and networking in these frontier countries, he has NEVER been able to close a deal on time and more often not even close it. It takes many years of discussion he tells us, but 5-10 years of negotiation with countries that change regimes quicker doesn’t feel like a business model that reaps results…… Pete should retire and give the reigns to someone new ( not his kids)….. and we will get a 50% rise just from that….. I would add Mango masks to the list… plus MENZIES…. Now whatever happened to that big contract?……tick tock for the new SL airport opening, wonder if Pete comes clean beforehand that he has lost another MSC….B
DrM
Think about it….. Wsg have had an exclusive contract with SL to provide security services at Lungi airport… getting paid for very little so a nice earner… that earner has propped Wsg revenues up for many years as Pete fishes around for other elusive msc cash cows… Tema was supposed to join the herd…
Now the government expand that airport to get more passengers through… yippee we shout as the cow will get bigger( and therefore the cash)….. so…. 2 years later we are on the cusp of the airport opening and not a word from Wsg on the expansion project and how it impacts on the Wsg exclusivity Pete bangs on about….do you not find it incredibly odd that Pete remains silent and it can only be bad for them otherwise we would have had a mention on 23 outlook containing expected larger revenues due to lungi…… why the silence, it’s a pretty big elephant (cow) romping around bumbly towers… does Pete not think we join our own dots…..and as an aside to expand how sly Pete is, Tema has been running for 3 years and yet last November was the very first time he mentioned how sour it is…. When he says we might walk away… he means we are being booted out of Ghana…..the only question left is… what happens next… we will go from 2 MSCs down to none….. nice…….B