Fisher (james) & Sons Share Discussion Threads

[r88ave] 27/11/2023 12:20

I like to look of wind turbine in energy sector on last interim, can see this explode in coming years the company expertise in this. Reckon the chairman should seek more marketing PR power to get more work in this sector.

[hamhamham1] 23/11/2023 19:04

GET READY FOR LIFT OFF IMO !!!!

[hamhamham1] 23/11/2023 18:58

Back in 2019, revenue was £617m and £47m pbt, the share price was 20 quid (note - currently its 3 quid), look at this years forecast for revenue and pbt, is it soo far for 2019???



And look at the debt, looks less to me, long term and short term totals = 2019 £218m vs now £188m ;)

[bouleversee] 22/11/2023 14:44

Hope you don't have too long a sleep, Ham Ham.

The youtube video was quite encouraging about FSJ's recovery prospects.

[hamhamham1] 22/11/2023 11:15

Up we go, wake me up when it hits 20 quid again ;)

Look at the chart for the 10 year leading upto covid outbreak (2010 to Jan/Feb 2020)

[simon gordon] 22/11/2023 09:01

FSJ was discussed by a fundie on Vox Markets yesterday - starts at 26.50:

[hamhamham1] 22/11/2023 08:55

Been out of here for a while.
Back in at 284p today.
So much decommissioning work coming up in North Sea, and elsewhere, as well as other sectors FSJ operate in.
GLA.

[aishah] 21/11/2023 15:53

What's the plan to bring the big debt down?

[sphere25] 21/11/2023 15:41

Who is that? Is that Invesco out or close to cleared?

Odyssean taken their stake?

That is all that can be seen from recent big holding movements.

Seller at 272p atm but due a technical bounce

All imo
DYOR

15:51 edit: Followed that stream of buys in for a quick go at 272p. Spread is a pain here and very lumpy gappy sort...can move 5p on nothing volume so a quick exit if it doesn't push on from here.

[sspurt] 21/11/2023 14:38

Big block trade at 260p - hopefully cleared the seller

[superiorshares] 16/10/2023 19:47

Porsche 1945
You do make some odd statements
Are you OK ?
Mental health or similar ?

[masurenguy] 14/10/2023 11:08

"A more recent addition to our portfolio is James Fisher (LSE: FSJ), a leading provider of marine services and technical products to the offshore- renewables, energy and defence sectors. The group covers a range of specialist niches where its engineering expertise is crucial, from building offshore wind farms to submarine rescue services. The group serves global markets with secular growth drivers and often provides unique products or services. Having had a troubled period after the pandemic, the group now has a new CEO with clear plans to drive improved performance across margins and return on capital, a key gauge of profitability. The shares trade at around book value, which we see as undervaluing the expertise and quality in the group’s varied business units."
Odyssean Investment Trust 12/10/23

No position - added to my watchlist.

[porsche1945] 03/10/2023 08:55

…and how’s this working out for you?? I’ll stick to Msft thanks. I’m sure my kids will be grateful whereas yours will be living in a tent on the proceeds of this crxp. Nobody buys U.K. shares anymore ffs.

[superiorshares] 20/8/2023 21:50

Ouch ... maybe 15 pound not 😀
China is Tanking head for cover !

[superiorshares] 31/7/2023 17:49

Nice to see the 100 new license for the North Sea .
3- 4 years . Fisher £ 15 +

[superiorshares] 07/7/2023 21:27

Porsche1945
Problem with your theory your giving your kids what's happened in the past , not the potential future .
Of course everything is now AI .. this will turn out to be a nothing just like the millennium bug , Crypto etc .
Will oil be around when your kids are old and Grey ... I reckon so

[porsche1945] 04/7/2023 17:05

what junk this share is even by dog index of the world uk standards, if youre giving shares to your kids….its msft and apple, not hopeless capital destructive uk vomit like this.

[se81] 14/6/2023 07:11

That sounds like a very good AGM update- the first with a positive tone for years? (literally)

[bouleversee] 30/3/2023 10:18

Thanks, Illis. S.P. down a bit more today while the market seems to be on an upward trend. Hope FSJ changes course.

[illiswilgig] 30/3/2023 08:38

Hello Bottomfisher,

Good points. I agree with you. The new hires look good and the new division structure makes more sense in todays markets. I think this change has been underway for some time and the previous CEO is still working in the company (until June iirc) to complete the restructuring and integration of subsidiary units with new company systems.

I'm hoping that under the covers the profitable businesses are making good progress. Contining revenue is ahead of expectation and I expect that the management is focusing upon not taking on low margin business and disposing of low margin operations. The recent fall in share price seems to be partly market wide and of course the banking convenant difficulty, likely disconnecting the share price from progress being made at the company?

Dividend. I notice that broker consensus following the recent snafu with the banks has reduced the forecast FY23 eps from 40p to 36p but retains a proposed dividend of 15p. That seemed ambitious to me, I'd prefer that they continue to pay down debt and invest, but its still there and I wonder if that reflects tough conversations between the BoD and the Sir John Fisher Foundation trustees?

It seems that in the setting up of the Trust Sir John Fisher stated his intention that the majority of the Trusts assets should be the Fisher shares. I don't know what the trustees think of that but it's not easy to ignore and they have been aware of the risks for many years. Accordingly they retained the advice of a Shipping consultant years ago, which is sensible given the stated intention of the donor in setting up the trust.

Reading between the lines I think the founder had two main reasons for setting up the foundation - the first being to continue his families charitable activities in the local area. The second being to put a substantial block of shares where it would not be easy for them to be disposed of or acquired by a hostile bidder.

I see in the accounts of the Foundation that it's expenditure is primarily in charitable donations - it has only modest operating costs of its own - and almost entirely gives to support other charities and a large number at that which suggests that they are careful to ensure that no one charity is overly dependent upon them. That is probably not by accident. A reflection of the risk to their funding and has enabled it to reduce funding by over 50% whilst its income has almost completely disappeared.

Spending over 1m in the year to March2022 surprised me. Luckily for the foundation another family trust - the John Mervyn Fisher Trust (Jersey) was wound up in 2021 and the assets transferred to the John Fisher Foundation - including over 2m in cash. It seems this has given the foundation an ability to continue substanntial donations to worthy causes - but I can also see that they will be asking (possibly even demanding) the return of dividend payments as soon as possible.

Given the founders intentions for the trust assets - I doubt that the trustees are in a rush to sell the shares? Personally I hope that they don't. I can imagine that they might sell some of the Mervyn Fisher shares, but probably once the share price has recovered enough for the sale to provide them with more appropriate short term liquid funds/investments to cope with future variations in dividends. Though of course, that would depend upon the nature of the Mervyn Fisher settlement which I don't know.

I shall be watching with interest to see how the potential return of dividend in 2023 proceeds, with a good offshore season in the energy business its certainly possible and that could transform the situation of the company later in the year - as well as its share-price? I can hope, but it seems Stuart Widdowson at Oddysean agrees - and he's way smarter than I am, which has me thinking.........


cheers

[bottomfisher] 29/3/2023 20:04

The new ceo seems to be really shaking up Fisher’s management team. Over the last month or so Fisher has appointed a new group general counsel Jean Francois Bauer (a near 30-year Schlumberger veteran), and new heads for two of the group’s three divisions. Rob Hales, the new head of defence is ex-Serco, and Neil Sims, the new head of energy comes from Expro.

Meanwhile, the collapse in Fisher’s share price and the abandonment of the dividend must be causing considerable soul searching amongst the trustees of the Sir John Fisher Foundation, the biggest shareholder, which owns 11.49m FSJ shares, or 22.79% of the company.

Virtually all of the charity’s assets are tied up FSJ shares and until recently the company was relying on its Fisher dividends to finance its annual donations of around £3m a year to over 70 local worthy causes mainly in the deprived surroundings of Barrow in Furness, its home town.

The charity does not appear to be represented on the Fisher board but according to the charity’s annual report has hired John Lawson, a former City shipping analyst, to advise it on how to contain the risks involved with the charity being almost totally dependent on the movement of the share price in just one company.

It would make sense at some stage for the charity to diversify its portfolio and substantially reduce its reliance on its income from Fisher’s shares. This is one reason why Fisher’s current depressed share price could attract a predator.

However, the recent disclosure that the company will retain some parent company guarantees to support the obligations of JF Nuclear following its sale could temper any potential predator’s enthusiasm.