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FSJ Fisher (james) & Sons Plc

275.00
-1.00 (-0.36%)
18 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Fisher (james) & Sons Plc LSE:FSJ London Ordinary Share GB0003395000 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -1.00 -0.36% 275.00 271.00 279.00 283.00 271.00 283.00 22,699 16:35:17
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Deep Sea Frn Trans-freight 520.9M -11.1M -0.2205 -12.29 136.44M
Fisher (james) & Sons Plc is listed in the Deep Sea Frn Trans-freight sector of the London Stock Exchange with ticker FSJ. The last closing price for Fisher (james) & Sons was 276p. Over the last year, Fisher (james) & Sons shares have traded in a share price range of 243.00p to 427.00p.

Fisher (james) & Sons currently has 50,347,663 shares in issue. The market capitalisation of Fisher (james) & Sons is £136.44 million. Fisher (james) & Sons has a price to earnings ratio (PE ratio) of -12.29.

Fisher (james) & Sons Share Discussion Threads

Showing 4201 to 4223 of 4225 messages
Chat Pages: 169  168  167  166  165  164  163  162  161  160  159  158  Older
DateSubjectAuthorDiscuss
18/4/2024
16:39
The CEO mentioned the recruitment of "an outstanding general manager" to lead JFD America, he was a Captain in the US Navy from where he recently retired and his CV on LinkedIn looks pretty heavy-duty.

Keith Lehnhardt

simon gordon
18/4/2024
10:25
Have to say Monsieur Vernet is an excellent presenter. Struggling not to be convinced..
sspurt
16/4/2024
13:04
FSJ on YouTube - 16/4/24:

Full-year results for the year ended 31 December 2023

simon gordon
16/4/2024
12:17
JFN not looking particularly scary:

"The increase in provisions in 2023 largely relates to a £6.4m charge relating to potential liabilities on parent company guarantees for JFN."

simon gordon
13/4/2024
16:34
According to this post on LinkedIn, two months ago the top team were in Washington drumming up business:

Robert Hales

Head of James Fisher Defence Division

Last week was an important moment to be in Washington, attending the GlobalSOF Imperatives Forum as the US heads into a pivotal election and the world faces an increasingly risky security environment. JFD Global were proud to sponsor the forum and discuss how our tactical delivery vehicles and life support systems can address the capability needs of US SOCOM.

This was thanks to the energy and drive of the Global SOF Foundation and Navigators Global LLC who pulled together such an impressive set of attendees and speakers, with our own Jean Vernet doing a great job as MC for the forum.

Thank you Senator Joni Ernst, Senator Budd, Representative Bergman, Assistant Secretary Maier and General Donovan for your leadership in such an important area for the US and its international partners.

-----

JFD Global - 11/4/24:

JFD is excited to showcase at SOF Week 2024, taking place from May 6th to 10th at the Tampa Convention Centre in Florida. 🌊

Join TeamJFD as we unite on stand '2901' to showcase our Tactical Diving Vehicles and Life Support Systems which offer enhanced maritime capabilities for global Special Operations Forces.

SOF Week has become an important date in the JFD calendar as we develop our presence and US strategy. This year is no exception and we are excited to physically showcase some of our kit - stay tuned for more information..!

simon gordon
13/4/2024
10:13
This eight-year chart gives a better view of monthly volume since the collapse:


free stock charts from uk.advfn.com

simon gordon
12/4/2024
17:03
Maybe two of the chunky trading days in April have cleared an overhang:


free stock charts from uk.advfn.com



April shaping up to be a very strong month for volume:


free stock charts from uk.advfn.com

simon gordon
12/4/2024
16:05
Nobody seems to have noticed the recent strength from 250p to people buying at 295p. Hopefully a sign of better things to come.
kinwah
02/4/2024
18:55
Anyone have any idea of the cost of the new debt facility? Plenty of mention of it but no rates of interest.
elsa7878
30/3/2024
11:53
Kinwah,

That's an interesting take. Cheers!

-----

FSJ discussed at the 25-minute mark.

FrostRow Capital on YouTube - 19/1/24:

Odyssean Investment Trust – Q4 2023 Portfolio Manager Update – Thursday, 18th January 2024

simon gordon
28/3/2024
00:04
I would be very surprised if the situation was as bad as Kinovo. Kinovo allowed the acquiring company to spend willy nilly on contracts with Kinovo funding all the working capital requirements. FSJ provided parent company guarantees to back contracts between Magnox and JFN. I think there will be scope to argue the contracts were unfair and Magnox will end up shouldering a good proportion of any additional cost. It's not in Magnox's interest to be overly tough on its contractors as otherwise everyone will withdraw from the market. My guess is FSJ can delay any adverse impact from the JFN collapse until the other group businesses are recovering nicely.
kinwah
24/3/2024
19:43
It looks like the main unknown in buying in now is the Nuclear division and what the liabilities are after it went into administration.

"In the period through to its disposal on 3 March 2023 the Nuclear Decommissioning business generated revenue of £6.7m (H1 22: £23.4m) and a loss after tax of £6.4m (H1 22: £1.6m). Subsequent to the sale of the business, on 9 August 2023, the Group was notified that JFN Limited had appointed administrators and is in the process of being liquidated. The Group is engaged with the administrators and certain key customers of JFN that held parent company guarantees with the intention of mitigating potential claims against the Group that may arise from the JFN administration. A provision of £4.0m has been included in the results for the period to 30 June 2023 in relation to potential claims/settlements under parent company guarantees."

Half Year Report - 21/9/23.


Hopefully, it's not a Kinovo-type situation. Surely, the CEO wouldn't have passed it on to a PE outfit if he thought there would be a big bill if it went wrong.

Rcapital - 2/3/23:

RCAPITAL ACQUIRE SPECIALIST NUCLEAR DECOMMISSIONING BUSINESS, JAMES FISHER NUCLEAR



Six months later JFN went bust.

If it is seriously material, surely they would have had to disclose it to the market? Been nearly eight months since they went into administration.

simon gordon
24/3/2024
13:11
ChampionX - 22/3/24:

ChampionX Agrees to Acquire RMSpumptools, Expanding Reach in International,

THE WOODLANDS, Texas, March 22, 2024 (GLOBE NEWSWIRE) -- ChampionX Corporation (“ChampionX” or the “Company”) (NASDAQ: CHX), a global leader in oilfield technology, announced today it plans to acquire RMSpumptools Limited, a business unit of the energy division of UK-based James Fisher and Sons plc (“JFS”). The unit designs and manufactures highly engineered mechanical and electrical solutions for complex artificial lift applications.

Under the terms of the agreement, the net purchase price is approximately £86 million (approximately $110 million at the current exchange rate) inclusive of net working capital adjustments. The integration of RMSpumptools technology will enhance ChampionX's Production and Automation Technologies portfolio, providing added value to the Company’s customers worldwide. The acquisition will further strengthen the Company’s presence and participation in a broad range of international markets including the Middle East, Latin America, and global offshore developments. The Company anticipates that RMSpumptools will achieve approximately $65 million in 2024 revenues and approximately $18 million in 2024 adjusted EBITDA.



-----

With Subtech Europe closed (£40m t/o) and RMS sold (£43m t/o) that will probably take annual turnover down to c.£400m.

I've done this crude calculation of what 5%, 10% and 15% operating margin produces on a 10x rating. Based on £6m in interest payments per anum.

FSJ
-T/O: £400m
-Operating profit margin: 5%
-Operating profit: £20m
-Market cap: £200m = 10x operating profit
-After interest costs = £14m pbt x 10 = £140m divided by 50.4m shares = 277p

FSJ
-T/O: £400m
-Operating profit margin: 10%
-Operating profit: £40m
-Market cap: £400m = 10x operating profit
-After interest costs = £34m pbt x 10 = £340m divided by 50.4m shares = 675p

FSJ
-T/O: £400m
-Operating profit margin: 15%
-Operating profit: £60m
-Market cap: £600m = 10x operating profit
-After interest costs = £54m pbt x 10 = £540m divided by 50.4m shares = 1071p

Maybe they can get close to a 10% operating margin in 2025. With possibly some topline growth as well. A 15% operating margin may take several years.

The alpha in 2024 is a chunky defence order. The special forces sub was in trials with the US Defence Dept in Norway and Florida, according to Mr Staveley.

JFD Special Ops website:



The near-term and well-qualified opportunities at JFD are £270m, according to Jean Vernet, Sept 2023.

Still, it looks like it could be 2025+ before it seriously re-rates.

simon gordon
22/3/2024
09:02
James Fisher & Sons PLC jumped in early trading after announcing the £90 million sale of RMSpumptools to ChampionX UK.This was in line with the firm's strategy to simplify its portfolio through the disposal of non-core assets, James Fisher said in a statement."While RMS is a leader in its markets, it is a product business operating in the oil and gas industry that has minimal synergies with the rest of the group," the company added.These do "not strongly align with James Fisher's strategy of focusing on maritime services to its core energy, defence and marine transport markets". After accounting for the likes of debt, Fisher's proceeds from the deal, due to be closed later this year based on shareholder approval, are set to amount to £83 million and will be used to strengthen its balance sheet."The sale of RMS marks a significant step in simplifying our portfolio to further strengthen our financial position," chief executive Jean Vernet commented. "We believe the transaction represents good value for our shareholders, reflecting RMS's strong performance in recent years."Just need patience with this stock... show me don't tell me...
tail_risk
22/3/2024
09:01
First time in a while that it might be investable.
elsa7878
22/3/2024
08:04
Well that is a material de-leveraging.....new broker notes will show direction of travel and EBITDA impact....DYOR
qs99
16/2/2024
17:38
Good to see the share price moving in the right direction. Hope that continues and that they start paying dividends again.
bouleversee
16/2/2024
17:13
The fact that Odyssean has increased its stake in FSJ is a reassuring sign. I had feared that they might have sold out to Fidelity. Odyssean has a good record of backing turnarounds and their increased stake indicates they have not lost faith in FSJ's recovery story.
bottomfisher
16/2/2024
13:34
They were at 4.4% in December 2023 according to FT data.
tail_risk
15/2/2024
16:51
Fidelity could have been sat just under a disclosure level (3 or 5%) so number of shares required to go to the new level is less material
eigthwonder
15/2/2024
14:28
Well if FSJ hasn't paid a dividend since 2019 and unlikely for 2024 then it's a reasonable way for the Foundation to continue to fund its commitments? Post sale of the 1.7% they still own 20.99%? To me Fidelity going quickly to 6.26% is more significant. I continue to believe the turnaround story from here under the new management but it is early days. No doubt there will be plenty of volatility along the way but Risk vs potential Upside looks compelling (more so this week!) Defence biz is a small part of earning and good they continue to shed loss making subsidiaries s happy to hold or increase position.
tail_risk
14/2/2024
21:27
Where does it say the sale price? I can't see it in the RNS, am I missing something?
otemple3
14/2/2024
17:23
It is not a good sign when a company’s biggest shareholder starts selling shares for the first time in 45 years at the lowest price in 20 years. But that is what has just happened with the Sir John Fisher Foundation selling 891,000 shares, or a 1.8% stake in James Fisher (FSJ), for well below £3.

The Sir John Fisher Foundation, whose charity work has been almost entirely dependent on the income from its Fisher shares, says that the proceeds of the share sale provides it with enough liquidity to deliver its charitable objectives for at least the next two years, and it remains a “supportive and long-term shareholder” with a 21% stake.

The share sale has been more than matched by the disclosure that Fidelity has acquired a 6.26% stake, equal to around 3.16m shares. Since Fidelity is not listed as a major shareholder in the company’s last annual report, one must assume that it has acquired the shares recently. Good news perhaps, but who was the seller of the extra 4.5% stake which enabled Fidelity to acquire its 6.26% stake?

bottomfisher
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