Fisher (james) & Sons Share Discussion Threads

[rivaldo] 18/9/2013 11:09

No probs.

FSJ have been presenting recently, including one yesterday - hopefully this will generate some interest:

hxxp://www.cityinsights.co.uk/news/

"James Fisher & Sons plc (FSJ) will be holding presentations in London on 22 August 2013, and in Liverpool and Manchester on 17 September 2013. If you are appropriately regulated, please contact us for an invitation."

[scottishfield] 13/9/2013 09:14

tks for the news riv.

[rivaldo] 13/9/2013 09:13

New highs again.

And news of yet another new technology from FSJ, this time from Strainstall - note that there are already "trials at key ports in the UK including Felixstowe and Tilbury, while the CWMS is also being considered for integration throughout ports and terminals within Europe, Chile, the US and Canada":

hxxp://www.porttechnology.org/news/strainstall_at_forefront_of_real_time_container_weight_technology/

"Strainstall at forefront of real-time container weight technology
10 Sep 2013 - Port Planning, Terminal Handling

Strainstall's container weight monitoring system is being trialled in Felixstowe and Tilbury. Image: Strainstall

Container weight verification has been a long-standing issue for both the transportation industry and country's worldwide.

Shipowners, ports, terminals, and other industry players have put increasing pressure on the International Maritime Organisation (IMO) to act and address this recognised and documented safety problem. This month could prove pivotal for the campaign, with a compromise solution, agreed by no fewer than 15 governments and 13 industry groups, to be put before the IMO for consideration.

In preparation for legislation relative to container weight verification a number of companies have been busy developing and testing technology that would provide accurate real-time weighing data, whilst minimising the disruption of day-to-day port operations. Strainstall, a UK-based measurement and monitoring company, believes it has the answer.

Strainstall's container weight monitoring system (CWMS) utilises industry standard twist locks by integrating strain gauge technology and instrumentation to create "an accurate load measurement solution that requires no modifications or the need to make any alterations to the existing spreader arrangement".

This new technology has been specifically developed to enable port authorities, shipping companies and couriers to establish the exact weight of containers and detect eccentric loads helping to reduce: risk of accidents; damage to handling equipment; stack collapse (due to overloaded containers); additional fuel consumption from poorly loaded vessels; and revenue loss for terminals and shipping lines from transporting containers with under-declared weights.

Strainstall's container weighing systems is available in several formats enabling customers to select the most appropriate option based on the operational needs of the port and existing infrastructure / equipment, and can be installed to RTGs (rubber-tyred gantry cranes), straddle carriers, reach stackers and STS (ship-to-shore) cranes

The company is already conducting trials at key ports in the UK including Felixstowe and Tilbury, while the CWMS is also being considered for integration throughout ports and terminals within Europe, Chile, the US and Canada.

"We have been very pleased with the high accuracy of data we have seen from our systems within the numerous ports," said Strainstall's business development manager (industrial sector), Scott Cruttenden.

"This has highlighted both the operational value of having CWMS in place as well as the value of ensuring safety during container loadings and ensuring weight is evenly distributed.""

[rivaldo] 11/9/2013 13:37

FSJ still moving up nicely. I believe the news above is extremely interesting.

OT : battlebus, yep, I was in HMS, happy days :o))

[battlebus2] 11/9/2013 11:20

Reminds me of hallin Marine which ofcourse was taken private for big money.

[gucci] 04/9/2013 11:22

hi Rivaldo, was wondering where you were

[rivaldo] 04/9/2013 11:01

Back from hols - and FSJ is looking good :o)) Lovely new highs.

And today there's news that the respected Harry Nimmo has been buying FSJ (and LOQ) for his Standard Life UK Smaller Companies IT:

hxxp://www.trustnet.com/News/454845/harry-nimmo-the-stocks-ive-been-adding-to-my-trust/1/1/

"Nimmo also bought James Fisher & Sons, a Barrow on Furness based provider of specialist engineering services to the marine and offshore oil and gas industries during the period.

The company won a couple of large contracts over the summer which helped its share price recover from a rocky period in the spring.

The contracts include a deal to provide structural monitoring technology and support to the Firth of Forth Bridge."

[battlebus2] 04/9/2013 09:51

Yep hopefully 1100 is behind us.

[gucci] 04/9/2013 09:50

breaking out!

[rivaldo] 23/8/2013 11:36

It's particularly pleasing to see the share price rising on such healthy volumes recently - 108,000 shares traded already today for example. This bodes well imo.

[battlebus2] 23/8/2013 08:02

Opened above 1100, new highs not far away.

[battlebus2] 22/8/2013 21:11

1100 just a whisker away.

[bouleversee] 22/8/2013 18:40

roddiemac2 -

No, I'm afraid I never got round to it. Actually, it was mostly my daughter's shares I wanted to do that with but she has the cert. and never got round to transferring them into her dealing acct. I already have some in my ISA but should have transferred more and also given more away to the grandchildren while they were down. Not enough hrs. in the day and I wasn't prepared for such a jump this week. I had been caught out by bed and isa-ing some other shares, creating a potentially taxable gain (though I can avoid that), which promptly collapsed, which is another reason I wasn't rushing to transfer while they were falling.

[roddiemac2] 22/8/2013 18:02

bouleversee,

I top lopped between £6 and £9 because I was very overweight in FSJ, but am financially worse off as a result.I diversified into a loser.

Hang on in there; the degree of certainty of good prospects looks better than ever.Did you bed and ISA some ? If so, well done.

FSJ is still my largest holding .

[bouleversee] 22/8/2013 12:06

Roddiemac2 -

I entirely agree. I asked the question tongue in cheek as the target given by some broker in the past couple of days has already been well exceeded.

I have no doubt that since this is by a long way our family's largest holding, simply because it has done so well, some would be advising me to trim considerably and to rebalance by putting the money into such as RDSB or Glaxo, but I'm not going to.

[roddiemac2] 22/8/2013 11:21

Hello bouleversee.

I never pay much attention to target prices . I remain confident, for all the reasons I have given previously, that FSJ is very capable of continuing to perform well.

See above " James fisher has developed the happy knack of pleasing both clients and shareholders " --- and their staff. When I spoke to Stuart kilpatrick , I asked him what it was like working for FSJ; he said " geat fun "

One of the oldest companies on the stock market , and one of the best.

[bouleversee] 22/8/2013 10:45

So, what's the target price now, whatever that means?

[rivaldo] 22/8/2013 07:21

The Times says Buy FSJ too:

hxxp://www.thetimes.co.uk/tto/business/markets/article3848372.ece

"Investors prepared to buy and sit tight for a decade have done very nicely out of James Fisher & Sons. The marine engineering group has produced a tenfold return over the past 13 years from its policy of confining itself to niche waters, nurturing its expertise and then exporting it to fast-growing emerging markets.

Whether providing diving equipment to the offshore oil industry, rescuing submariners or monitoring movements in the new Forth Bridge, James Fisher has developed a happy knack of pleasing both clients and shareholders. The approach delivered a 7 per cent increase in first-half sales to £201 million and a 15 per cent improvement in profits before tax to £19.4 million. The interim dividend was lifted 10 per cent to 6.46p.

Fisher was rewarded with a 6 per cent rise in the share price to £10.57 yesterday, close to its all-time high, sentiment warmed further by the company's prediction of stronger revenue growth in the second half.

There seems no reason why the strategy, augmented by a string of useful bolt-on acquisitions, should not keep on delivering. The biggest threat is a downturn in the offshore oil and gas industry, which generates about 60 per cent of group revenues. Yet even here, Fisher looks less vulnerable than some: it tends to service established, mature fields, not exploration projects - and after the Gulf of Mexico catastrophe, clients are trading up, which plays to Fisher's strengths.

In addition, with no operations in the North America, it has sidestepped the downturn plaguing some of its rivals there.

The shares now trade on 17 times forecast profits for the full year and yield a prospective 1.8 per cent. Not cheap, but, after such a consistently strong decade, Fisher deserves its premium rating. Buy."

[rivaldo] 21/8/2013 06:28

Nice - Questor in the Telegraph upgrades FSJ to Buy from Hold this morning:



"Questor share tip: James Fisher a buy once more
James Fisher now a buy up from hold, says Questor
By John Ficenec
6:00AM BST 21 Aug 2013
Questor says BUY

Shares in James Fisher look cheap, with the business likely to accelerate in the second half.

Fisher is a deep sea diving and submarine rescue specialist and full-year earnings forecasts are likely to be raised by City analysts.

Yesterday's results for the six months to the end of June showed pre-tax profits up 11pc to £18.6m on revenue 7pc higher at £201m. The numbers saw Fisher shares defy wider market weakness, by rising almost 6pc.

Over the half year, the Barrow-in-Furness-based marine specialist enjoyed buoyant demand for services in the offshore oil market . Its advanced "saturation" techniques which allow divers to go deeper underwater for longer and are more efficient than conventional air breathing operations, have seen strong demand.

Offshore oil operations reported revenue leaping by over a fifth, and profits rising 15pc to £9m, on business in the North Sea, Latin America and Asia Pacific.

Fisher continued to expand into higher margin diving business, yesterday announcing the £3.25m purchase of Osiris Marine Services which provides sub-sea services primarily to wind farms. This follows the £20.8m purchase of diving equipment supplier Divex in March.

Fisher's results were also boosted by contracts in West Africa. Oil extracted from the heart of Africa needs transferring to supertankers moored offshore because of the lack of port infrastructure. Marine operations, that include ship-to-ship oil transfer, saw underlying profits rise 7pc to £9.4m.

Encouragingly growth is being funded by cash generation rather than debt. An excellent cash flow performance and the £25.5m sale of the railway engineering business during the first six months resulted in net debt falling to £76m from £99m, year-on-year, leaving a strong balance sheet. Announced alongside these results was the sale of a 25pc holding in the Foreland joint PFI project with the Ministry of Defence which raised a further £11.4m.

The mergers and acquisitions activity led to a tweak in group structure with submarine rescue, Divex and Nuclear falling under Specialist Technical, while Fendering, Strain and Maritime Services operations became Marine Support.

With growth expected to accelerate into the second half, and a strong balance sheet for further acquisitions, a 2013 earnings multiple of 16, falling to 14.9 next year, doesn't look too demanding. Add in a healthy 10pc increase in the interim dividend to 6.46p, due on November 1 and ex-dividend on October 1, and Questor upgrades Fisher to buy from hold."

[rivaldo] 20/8/2013 09:57

Investec raise FSJ to Buy today, increasing their target price to 1085p. IMO their EPS forecast remains very light given FSJ's H2 bias and the current "buoyant" conditions - IMO 65p and perhaps 70p EPS is achievable this year:

"DJ MARKET TALK: Investec Ups James Fisher & Sons To Buy

0721 GMT [Dow Jones] Investec Securities upgrades James Fisher & Sons (FSJ.LN) to buy from add and target to 1085p from 1065p. Says it continues to deliver strong figures, with a 15% lift in underlying EPS to 29.9p in 1H13, accompanied by a 10% increase in the DPS. "This continued strong performance has not come about by accident and is due to astute positioning of the business by management in recent years with the group's exposure to, for instance, niche (Marine Services) and buoyant (Offshore Oil) sectors," it says. Raises FY13 EPS forecast to 61.7p from 60.9p and for FY14 to 66.4p from 65.9p. Shares sail to the top of the FTSE 250, +3.7% at 1035p."

[battlebus2] 20/8/2013 08:42

Can we breach that 1100 today :))

[cfro] 20/8/2013 08:40

Great results with a disposal raising cash and nice acquisition.