Fisher (james) & Sons Share Discussion Threads

[apad] 12/5/2015 09:11

I was surprised a the bounce too. Uninspiring trading statement, so I pencilled in an increase price of £11, to take advantage of FSJ taking advantage of the low oil price to buy in companies.
Doesn't look too hopeful, does it :-(
apad

[deadly] 12/5/2015 08:57

Bounce back after the TS has been much stronger than most expected. Election results did wonders for some reason.

[illiswilgig] 12/5/2015 08:36

The acquisition flow continues today with the announcement of the assets and IP of X-subsea:

JAMES FISHER AND SONS PLC (FSJ.L)



ACQUISITION OF ASSETS AND INTELLECTUAL PROPERTY FROM

X-SUBSEA UK HOLDING LIMITED



James Fisher ("James Fisher" or the "Group") announces today the purchase of the assets and intellectual property rights of X-Subsea Holding Limited ("X-Subsea") for a total consideration of £14.8m. Headquartered in Aberdeen, X-Subsea went into administration on 27 April 2015 following the collapse of its Norwegian parent company Reef Subsea AS.



X-Subsea was a world leading designer and operator of specialised excavation, trenching and dredging equipment, which is rented and operated worldwide for subsea operations in the oil & gas, telecoms and renewable energy sectors. It was the main competitor of James Fisher Mass Flow Excavation, operating from bases in Aberdeen, Dubai, Singapore, and the Gulf of Mexico. Its equipment and tools, many of which are patented, are used in challenging environments to prevent damage to pipelines, cables, structures and the environment.



Nick Henry, Chief Executive Officer of James Fisher, said: "The transaction strengthens and consolidates our position in subsea services, and will enable James Fisher to become the global leader in mass flow excavation."



FSJ picks up the assets and IP of their main competitor in this market. The diversification of FSJ's business streams gives it more strength at the moment than companies more focused upon the oil and gas industries.

FSJ's management is very experienced in building their business through acquisitions and as the competition collapses FSJ seems to be relentless in taking advantage and picking up assets and companies that build it's position.

As the industry adjusts to the new normals FSJ will even better placed in it's markets.

cheers

[roddiemac2] 12/5/2015 08:29

Quite a sizeable acquisition announced today.----

James Fisher ("James Fisher" or the "Group") announces today the purchase of the assets and intellectual property rights of X-Subsea Holding Limited ("X-Subsea") for a total consideration of £14.8m. Headquartered in Aberdeen, X-Subsea went into administration on 27 April 2015 following the collapse of its Norwegian parent company Reef Subsea AS.

Nick Henry, Chief Executive Officer of James Fisher, said: "The transaction strengthens and consolidates our position in subsea services, and will enable James Fisher to become the global leader in mass flow excavation."

[roddiemac2] 06/5/2015 09:37

James Fisher ("James Fisher" or the "Group") announces the acquisition of the entire share capital of Mojo Maritime Limited ("MML" or the "Company").

The initial consideration is £3.2m in cash, plus potential future consideration of £0.3m if the earnings before interest and taxation are £0.65m or greater for the year ending 31 December 2015.

Founded in Falmouth ten years ago by Richard Parkinson, CEO, MML is a specialist provider of consultancy and design services in the offshore renewable energy sector. The Company is involved in foundation design, installation methodology and project planning, as well as designing and developing products, some of which have been patented, aimed at reducing risk and cost of working offshore.

Richard Parkinson and his team will all continue with the Company.

MML has a sub-contract with James Fisher Marine Services ("JFMS") for approximately £1.2m under which MML and JFMS are working closely together on the construction phase of the MeyGen Inner Sound tidal project. MML has also entered into a licence agreement with a company owned by the selling shareholders through which they will benefit from a one third share of licence fees for the construction of up to 10 high performance dynamic positioning vessels for offshore wind farm construction and maintenance.

Nick Henry, Chief Executive Officer of James Fisher, said: "The acquisition of MML will strengthen our expertise and abilities in servicing the offshore renewables sector. We are delighted to welcome Richard and his team to our Group."

[roddiemac2] 01/5/2015 18:22

Schroders have increased their holding by 514,927 shares to 6,778,838 ( 11.013% )
They have maintained a holding for many years, and have tended to top lop and add
as they see fit. From memory , their holding has never been lower than about 9% ( sometime in 2008 )

[bouleversee] 30/4/2015 12:04

I gave a tranche of mine to grandchildren on Apr 4 to use my cgt allowance. Might have known that would trigger a drop. Will buy more in my ISA if they continue to fall. Feel sure they will be OK long term.

[emeraldzebra] 30/4/2015 09:59

Talking of the election - heard yesterday from some who might be in the know - that the Cons will win with an overall Maj. Stranger things have happened but would be mildly surprised. i think y can get 7/1 on that one !

[roddiemac2] 30/4/2015 09:37

tintin82,

A re-entry point---worth bearing in mind that the whole market might tip down after the election. It is fairly quiet now.

[tintin82] 30/4/2015 09:28

Hey Roddie. Totally agree, hard pushed to fine another constituent as good as FSJ. I just think that this lastest statement will put the wind up some who will cash out leading to a retreat in the short term. Long term I am in no doubt about FSJ bright future. Just looking for a re entry point!

[roddiemac2] 30/4/2015 09:10

tintin82,

It is a great company with excellent management. Apart from the Offshore oil, they are operating in all the right markets.I wish I could find another company that looked so certain to do well long term.

[apad] 30/4/2015 08:55

I only have a small holding and have £10 as an increase level, so am pleased about the market reaction, however I don't expect the fall to be maintained. It is instructive to compare the market reaction to WEIR's rns yesterday, where i was also looking to increase after the rns. I guess the market was relieved WEIR didn't issue a profit warning.
apad

[emeraldzebra] 30/4/2015 08:55

clearly disappointing trading statement short term - but good further forward - so am looking to add. i think a tenner would look grossly over - sold and i would only think 1100 is a 50/50 possibility. Hoping to top up at around 1150.

[tintin82] 30/4/2015 08:40

I sold out after the last results, at around 1260. Sold for no other reason than needed the cash elsewhere and felt FSJ where right on price target. Watching closely and looking to re enter at the 1000 level. Great company with excellent management.

[roddiemac2] 30/4/2015 08:40

I am not inclined to sell .I still see long term growth here. Depending on how far the shares drop , I may buy more.

[rivaldo] 30/4/2015 08:29

I sold this morning in tranches straight after the bell. Bit of a wrench after all this time....

I was surprised at the extent and effect of the prior year one-off contracts, and the lower H1 profits will not look good and will put FSJ on a pretty high rating.

The share price could drift back to 1000p (or lower if the oil price environment continues to be weak), so best to protect quite large profits after what's been a great run.

I'm sure I'll be back in at some stage as FSJ will bounce back, but that may not happen for another 8-9 months.

Good luck all, particularly roddiemac.

[roddiemac2] 30/4/2015 08:07

Trading update and AGM statement--

The Board of James Fisher and Sons plc ("James Fisher") today issues its Trading Update for the period from 1 January 2015 prior to its Annual General Meeting to be held today at 12.00noon.

Our Marine Support, Specialist Technical and Tankships divisions have commenced the year trading in line with management expectations. Offshore Oil has had a slow start, particularly in relation to last year when the division was boosted by major one-off contracts in Brazil.

Our Marine Support Division has seen some recent improvement in STS volumes and we expect to see an increase in our project revenues, particularly in the second half. Specialist Technical continues to make good progress with the delivery of its strong order book and we are well positioned on a number of significant contract bids. Our Tankships division is maintaining the positive performance of recent years.

Offshore Oil has experienced weaker market conditions, particularly in Norway as reported previously. The current round of restructuring in the oil industry has slowed customer decision making and contract awards generally.

Overall, given last year's one-off contracts, we would expect this year to see a lower first half with a stronger second half boosted by an improved performance in Marine Support and continued good trading in Specialist Technical and Tankships. The board believes that James Fisher continues to be well placed to provide further growth and value for its shareholders.

[rivaldo] 29/4/2015 12:26

More good news - a world first from FSJ's Strainstall:



Extracts:

"Intelligent Fender System Completes Offshore Trial
Posted by Eric Haun
Monday, April 27, 2015

Strainstall, part of James Fisher and Sons plc, announced the completion of the world’s first Intelligent Fender System (IFS) trial with energy companies SSE and RWE at Suffolk-based wind farm, Greater Gabbard.

The IFS is an in-house developed technology which aims to provide accurate and recordable data to improve safety and increase operational efficiency for vessel and offshore wind farm operators during transfer operations. The Greater Gabbard trial enabled Strainstall to verify IFS’s performance in the accurate monitoring and reporting of vessel push-on forces against offshore wind turbines."

"Trials were carried out utilizing James Fisher’s offshore support vessel, Dart Fisher, which was retrofitted with IFS earlier in 2015 and is now reportedly the only vessel operating worldwide with this technology. IFS will be able to provide clarity and understanding of the live and cumulative impact forces exerted during transfer operations through vessel push-ons, Strainstall said.

Highlighting the success of the trial Simon Everett, managing director of Strainstall, explained, “Up until this point there has not been any accurate real-time data to help support operators to monitor the forces being exerted, so this is an industry first. IFS now allows them to have very accurate records of real-time date that enables operators to efficiently manage their assets”. "

[rivaldo] 28/4/2015 09:09

Looks like FSJ have just acquired a bargain from the administrators....



"James Fisher Offshore buys Specialist Subsea Services Limited assets

The assets and intellectual property of ROV and offshore survey company Specialist Subsea Services Limited have been sold to James Fisher Offshore.

Blair Nimmo and Geoff Jacobs of KPMG LLP were appointed as Joint Administrators of Specialist Subsea Services Limited on 25 February 2015.

The Company’s key assets were five ROV’s and a significant amount of subsea survey equipment.

Immediately following the appointment, the administrators implemented an accelerated marketing process for the business and assets.

Following the closing date for offers, James Fisher Offshore Limited was awarded preferred bidder status for the Company’s assets on 20 March 2015.

Certain assets were situated in various locations across Europe. This additional complexity necessitated significant time and effort to be invested by all parties involved to achieve the optimum transaction structure.

Following the period of exclusivity, the Company’s assets and intellectual property only were sold to James Fisher Offshore Limited on 17 April 2015.

Blair Nimmo, joint administrator and head of restructuring for KPMG in Scotland, said:

“We would like to thank everyone involved for their significant efforts in helping to deliver this outcome. We are very pleased to have concluded the sale of these assets to James Fisher Offshore which will provide the best outcome for the Company’s creditors and may also generate the opportunity for future employment. We wish James Fisher Offshore every success for the future.”"

[illiswilgig] 24/4/2015 19:09

Nice....might be a bit of an understatement.

I remember the loss of the UK contract being a bit of a blow but Fisher stuck at it and slowly built a great product. Now they have a clean sweep I think?

cheers,

[emeraldzebra] 08/4/2015 12:02

couldn't explain the (rather sharp) downturn at all. seemed more to it than mere profit taking and there seems to be nothing but decent news in the pipeline.

[rivaldo] 07/4/2015 11:56

Rising nicely - good timing emeraldzebra.

Fendercare carried out the first ever ship-to-ship transfer of liquefied natural gas (LNG) in Gibraltar: