Fisher (james) & Sons Share Discussion Threads

[rivaldo] 03/9/2014 08:32

Cheers sf. News...

Investec say Buy and have raised their price target to 1500p from 1450p:



And Sanlam have retained their Buy and 1600p target:

[scottishfield] 02/9/2014 09:11

welcome back rivaldo

[rivaldo] 02/9/2014 08:27

Been away on hols, so nice to come back to such excellent results from FSJ (and cheers painter re your comment).

With Marine Support improving, and currency movements now benefiting FSJ's H2, I'd expect this to continue to be a good year for FSJ.

Some broker comments - first Singer:

"James Fisher has produced another strong set of results, with a slow start in Marine Support more than offset by growth elsewhere. The prospects for the Group’s niche services in demanding applications around the world remain strong and headroom remains for further organic and acquisitive investment. Divex continues to distinguish itself as an excellent acquisition with another contract win announced today. We have edged up PBT forecasts in all 3 years by 1% and this is the third time we have upgraded this year. Significant potential for ongoing growth remains in coming years and we feel that the Group is fully deserving of its premium rating and more."

And Investec:

"James Fisher reported an 8% lift in revenues to £216.1m, a 10% lift in underlying operating profits to £24.4m (+14% in constant currency and adjusted for acquisitions/disposals) and a 13% increase in underlying PTP to £21.9m (marginally ahead of our £21.5m forecast) in H1 FY14. The fully diluted EPS grew 14% to 34.0p and the interim DPS was increased 10% to 7.1p. Net debt rose to £82.4m (end-Dec 13: £54.3m), in part due to the working capital to sales ratio reverting to a more normal level.

Whilst James Fisher experienced a currency headwind that impacted H1 FY14 profits by c£1.5m, the group still beat market forecasts, we believe, and for the full year we are increasing our FY14E EPS by 3% to 73.5p (a new PTP forecast of £46.8m, was £46.0m)."

[painter] 01/9/2014 08:14

Whops!

I stand corrected roddiemac2 thank you.

[roddiemac2] 29/8/2014 19:59

painter,


FSJ is on the main market

[painter] 29/8/2014 19:55

I hold this long and also trade it in a range between (1320p and 1400p) They have to move to the main market in my view, up side to that I think would be around 25% with institutional buying ! All comments appreciated.

PS
As always great posts from Rivaldo as usual thank you.

[scottishfield] 28/8/2014 17:21

absolutely nothing wrong with this Co, - the share price is not reflecting all the good stuff going on, but no doubt it will.

[roddiemac2] 27/8/2014 19:07

Nice steady growth :-

James Fisher and Sons plc
Interim Results 2014

James Fisher and Sons plc (FSJ.L) ("James Fisher"), the leading
marine service provider, announces its results for the six months
ended 30 June 2014.


H1 2014
H1 2013
Change
Group revenue
£216.1m
£200.7m
+8%
Underlying operating profit *
£24.4m
£22.2m
+10%
Underlying profit before tax *
£21.9m
£19.4m
+13%
Underlying diluted earnings per share *
34.0p
29.9p
+14%
Proposed interim dividend
7.10p
6.46p
+10%
Statutory profit before tax
£20.8m
£18.6m
+12%
Statutory diluted earnings per share
32.0p
28.3p
+13%




* underlying profit excludes separately disclosed items


Highlights:
· Underlying profit before taxation up 13%;
· Underlying diluted earnings per share rose 14%;
· Marine Services divisional revenue increased by 12%;
· Increased Specialist Technical order book, robust
performance at Divex;
· Offshore Oil revenue up 20%, led by growth in Latin
America, West Africa and Asia Pacific;
· Three bolt-on acquisitions completed for £14m;
· Interim dividend raised by 10%.

[roddiemac2] 27/8/2014 19:01

27 August2014

James Fisher and Sons plc

DIVEX TO SUPPORT BP Exploration


James Fisher and Sons plc (FSJ.L) ("JFS") today announces that its
subsidiary Divex has been awarded a contract by Keppel Singmarine
("KSM") to supply a saturation diving system for the BP Exploration
Shah Deniz II Project in the Caspian Sea.

Divex, the global leader in the design and delivery of saturation
diving systems, has been contracted by Singapore shipyard KSM for
the engineering design, supply, installation and commissioning of a
300 metre depth, 18 man, twin bell / twin hyperbaric lifeboat
saturation diving system.

The diving system will be installed into a 155m vessel being built
for the BP Exploration Shah Deniz II Project in the Caspian Sea.
The vessel is being built in Singapore and is expected to be
completed in the Baku Shipyard for delivery in 2017.

Nick Henry, Chief Executive Officer of JFS said:

"This is a complex project which requires the very latest diving
technology and we are delighted that Divex has been selected to
complete this contract. This is testament to the market leading
design skills and technology which Divex possesses and we are
looking forward to working with Keppel Singmarine on this important
project."

[painter] 27/8/2014 18:59

Good results in my view! surprised that it didn't hold the early
gains,

[rivaldo] 21/8/2014 18:04

Good news tonight on Meygen, the largest permitted tidal energy project in the world - a financing package has been agreed:



Remember that James Fisher are appointed to carry out the offshore construction works, including installation of the subsea cables, foundations and turbines - well, "Construction is expected to commence in Q4 2014" per tonight's RNS.

[roddiemac2] 15/8/2014 21:25

Start again; this computer has a mind of its own mind. I don`t understand your last post APAD.

[apad] 15/8/2014 18:40

WE'VE NOTHING against words being nailed down properly. But words that can be taken apart and used to make other words...well that's downright dangerous.
Terry Pratchett, The Colour of Magic, Corgi Books,1983.
apad

[roddiemac2] 15/8/2014 18:38

A more optimistic view ----John Masefield ( The Wanderer )

Therefore, go forth, companion: when you find
No highway more, no track, all being blind,
The way to go shall glimmer in the mind.
Though you have conquered Earth and Charted Sea
And planned the courses of all stars that be ,
Adventure on, more wonders are in Thee.
Adventure on for from the littlest clue
Has come what worth man ever knew;
The next to lighten all men may be you

[roddiemac2] 15/8/2014 14:40

APAD,

I can see I am going to have to pick my words more carefully for you:-- Some of the markets FSJ serves are about the attempt of the human race to survive. With growing populations and depleting natural resources , growth on out into the future is impossible. The future for most people will be to pay more to get less.
The obsession with growth leads me to think that there is no more intelligence in the species than a field of cabbages.

A better strategy for survival might be one based on how to manage the shrinking---?

[rivaldo] 15/8/2014 14:05

More than 75% of revenues are non-offshore oil and gas then. Plus oil is well above $100 and is likely to remain so imho, whilst sector expenditure will wax and wane as it always has.

New sources of fuel will need more and more of the services FSJ offers given the need to explore deep underwater and further offshore.

FSJ has steamed on through the recession and through the good times, thanks to its top-notch management whom I trust.

The pension deficit is irrelevant and small at £23m - and in fact this year will show a large reduction in total contributions to £4.7m from £10.1m last year.

[apad] 15/8/2014 13:18

Points accepted, folks.
However (don't you just hate that word?) Offshore oil and gas is 25% of the business and there must be a considerable overlap with "marine services".
So, do tell why a cut back in big oil expenditure in these days of falling crude prices despite world unrest (Kurdistan is in the world's top ten) because of massive oversupply shouldn't be a drag on FSJ?
apad
ps
any views on their pension deficit.
pps
Roddie, hate to tell you this but the human race won't survive:-)

[roddiemac2] 14/8/2014 18:45

Correction -- Some of the markets FSJ is involved in ARE about the -----

[roddiemac2] 14/8/2014 18:23

APAD.

Some of the markets FSJ is involved in is about the survival of the human race . I can`t see the relevance of the oil price.( I could , however , be wrong )

[scottishfield] 14/8/2014 16:26

Wow, just in , great rise today :) Chart-wise we can/should crack on from here.

[apad] 14/8/2014 14:06

r
Only because big oil will throttle back on expenditure - not true?
apad

[rivaldo] 14/8/2014 13:50

Exactly roddie, all opinions I've seen confirm that marine transport/usage will continue to grow fast, indeed some say at the expense of air transport.

Nice move today. Looks like FSJ is back on an uptrend again.

[roddiemac2] 13/8/2014 17:26

APAD,

Why do you think the decline in the oil price will dent FSJ?. I have said before that FSJ looks like a company you could hold for life . Not many of those around. Look at the diversity of markets they serve, and the geographic spread.They are involved in the development of the " last frontier " .( the sea ,and everything being done on and under it ) I first bought FSJ in Dec 2001.

I have held NBI since March 2011, and moved them into my ISA in January this year.
They seem a very well run company with good prospects .

[apad] 13/8/2014 15:44

We must stop meeting like this.
Have been watching Fisher, but decided to go for NBI instead (a while back).
Do you researchers have a view on NBI. Still tempted by Fisher, but with the oil price on a relentless decline I feel in no hurry.
Will value your views.
apad