Fisher (james) & Sons Share Discussion Threads

[emeraldzebra] 05/3/2015 15:25

Strat aero is the 4th one.

[emeraldzebra] 05/3/2015 15:23

APAD - You might take a look at Galvan's tips for the year. there were 4 - - allied minds, lancashire holdings, internetQ, and another which reverting. All have done quite well - although Allied minds down a lot today on the back of mm's playfulness i think. i have bought none of them sofar - but will make a judgement at the end of the year to see whether should take more seriously in 2016.

[emeraldzebra] 05/3/2015 14:54

Having a nice run. considering how long they spent well into the 1300's/1400's through 2014, and all in a lower FTSE market, and without the positive developments within the Company, reported in the last updates, - feel the mkt has been undervaluing these, and there might be more to come in the short term.

[rivaldo] 05/3/2015 07:41

Nice summary of the results here, but in particular the CEO's comments which hint at further acquisitions:



Extract:

"Mr Henry said: “The group had a further year of consistent growth with underlying operating profit increasing by 11 per cent to £51.5m.

“The strong result underlines our broad geographic spread and range of specialist services across diverse marine sectors.

“James Fisher is well placed to invest organically and to take advantage of further acquisition opportunities.

“Our dividend has increased for the 20th year in a row. The number of companies who can say that is very small.

“That shows the strength of Fishers and we hope that that’s set to continue."

[apad] 04/3/2015 08:39

Got fed up with my dithering and joined the FSJ club this morning.
Sometimes I think that the longer a share is on the watchlist, without a change in the storyline, the more I'm likely to buy it - perhaps that's what watchlists are for?
My HTG purchase was well timed - finals tomorrow, might increase.
apad
ps
IC tips make me wary:-) E.g. Simon Thompson's Quindell tip.

[rivaldo] 04/3/2015 08:14

Nice article in the IC, concluding with a Buy rating - hopefully Friday's print edition will bring in further interest:



"IC view

These results are a credit to the diversity of James Fisher's cash flows - a model that keeps it largely insulated from major swings in market conditions. After a pullback, the shares are trading on a forward PE ratio of 15, which looks an attractive entry price, given the company's strong record. Buy."

[rivaldo] 03/3/2015 11:01

Nice - Panmure Gordon have upgraded to Buy from Hold, and have an increased 1500p price target (from 1300p):



"James Fisher & Sons plc Upgraded to Buy at Panmure Gordon (FSJ)

Posted by Seth Barnet on Mar 3rd, 2015 // No Comments

James Fisher & Sons plc logoPanmure Gordon upgraded shares of James Fisher & Sons plc (LON:FSJ) to a buy rating in a research report released on Tuesday morning. Panmure Gordon currently has GBX 1,500 ($23.12) price objective on the stock, up from their previous price objective of GBX 1,300 ($20.03)."

[emeraldzebra] 03/3/2015 10:10

v nice results and my £15.00 target might be achievable within 2015. A very solid outfit operating in pretty specialised markets should send them on their way i would hope.

[rivaldo] 03/3/2015 08:15

Excellent results - the 79.2p reported EPS and the 74p diluted is well ahead of consensus 73.52p EPS, and the 22p dividend is right on target.

The outlook statement is also nicely positive, despite the expected downturn in offoshore oil, which FSJ state doesn't affect them too much given their involvement in production and development rather than exploration and appraisal.

Gearing remains reasonable, so plenty of room for further acquisitions as well as today's purchase.

[gucci] 03/3/2015 07:50

TIDMFSJ

RNS Number : 3495G

Fisher (James) & Sons plc

03 March 2015

3 March 2015

James Fisher and Sons plc

Preliminary Results for the year ended 31 December 2014

James Fisher and Sons plc (FSJ.L) ("James Fisher"), the leading marine service provider, announces its results for the year ended 31 December 2014.


2014 2013 change
Revenue GBP444.8m GBP413.7m +8%
Underlying operating profit
* GBP51.5m GBP46.6m +11%
Underlying profit before
tax * GBP46.9m GBP41.4m +13%
Diluted earnings per share
* 74.0p 65.6p +13%
Dividend per share 22.0p 20.0p +10%
Cash conversion 109% 134% (19%)
Statutory operating profit GBP53.9m GBP44.9m +20%
Statutory diluted earnings
per share 79.2p 75.7p +5%

* underlying profit excludes separately disclosed items
-- Revenue of Marine Service divisions (Marine, Offshore & Specialist Technical) up 11%
-- Strong profit growth at Specialist Technical and Offshore Oil
-- Enhanced order book at Specialist Technical
-- Strong cash conversion at 109%; balance sheet gearing of 31% (2013: 30%)
-- Dividend raised for 20(th) consecutive year to22.0p (2013: 20.0p)
-- Acquisition of Subtech announced today
Commenting on the results, Chief Executive Officer Nick Henry said:

"The Group had a further year of consistent growth with underlying operating profit increasing by 11% to GBP51.5m and underlying diluted earnings per share increasing by 13%. The strong result underlines our broad geographic spread and range of specialist services across diverse marine sectors. James Fisher is well placed to invest organically and to take advantage of further acquisition opportunities. Looking forward to 2015 we believe the Group continues to be well placed to provide further growth and value for our shareholders."

For further information:


Chief Executive
Officer
James Fisher Nick Henry Group Finance 020 7614
and Sons plc Stuart Kilpatrick Director 9508
---------------- -------------------- ----------------- ---------
Richard 020 3727
FTI Consulting Mountain 1340
---------------- --------------------------------------- ---------

Chairman's Statement

[rivaldo] 03/3/2015 07:15

Another earnings-enhancing acquisition paid for from cash:



As well as £0.7m EBITDA, FSJ get almost £3m of net assets - for an initial £3.4m consideration. A pretty good deal given the balance is dependent on profitability.

[rivaldo] 02/3/2015 12:28

Asian expansion news:



"Media Release: Fisher Offshore expands partnership with Ingersoll Rand in Malaysia

A NORTH-east energy industry specialist has extended its relationship with one of the world’s leading suppliers of industrial equipment following a recent successful expansion into Asia.

Fisher Offshore is already the UK’s largest provider of Ingersoll Rand winches, hoists and air-powered tools and will now be the sole distributor for its material handling product line in Malaysia.

The company, which was a finalist in the company of the year category at the recent Subsea UK Awards, will administer the new product line from its operations centre and workshop in Labuan and its offices in Singapore after it established a permanent presence within the region last year.

With a range of equipment and personnel already mobilised throughout the world, Fisher’s expansion into Asia is designed to support rapid response to client requirements in the region.

Jack Davidson, managing director of Fisher Offshore, is delighted to enhance the company’s offering, something that he believes will compliment Fisher’s existing activities in Asia.

He said: “Fisher Offshore has had a successful working relationship with Ingersoll Rand for a number of years and we’re delighted to extend this further by becoming its sole distributor in Malaysia.

“We made the decision to establish a permanent presence within Asia last year having been active in the region previously and throughout the last six months, we’ve been putting in place the foundations for future growth within the region. This extension of our partnership with Ingersoll Rand is set to be another key component of our overseas activity.

“Fisher’s strength lies in being able to combine our specialist services, products, personnel and skills into a package of which our clients, both in the UK and in the Far East, can benefit from. Our ambitious growth strategy very much underpins our focus on continuing to provide reliable integrated solutions to the energy industry.”

Kevin Lever, sales manager at Ingersoll Rand, said: “This is a great development by Fisher Offshore and is in line with our strategy to expand our market coverage in areas where we have no or little representation. We are very much looking forward to working with the company in Malaysia.”

etc"

[rivaldo] 26/2/2015 14:16

Good news for FSJ's Strainstall:



"Foundation sensor trial
06 Feb 2015

UK-headquartered load measurement specialist Strainstall has been subcontracted by the Norwegian Geotechnical Institute (NGI) to install sensors, as part of their Structural and Environmental Monitoring (SEM) solution, on to a new ‘Suction Bucket Jacket’ foundation, which is currently being trialled at the Borkum Riffgrund 1 Offshore Wind Farm in Germany.

The innovative foundation, based on similar foundations which have used successfully within the oil and gas industry, have been designed to help cut the costs of electricity from offshore wind farms. The structure was successfully deployed in August 2014 by Dong Energy as part of its collaboration with the UK’s Carbon Trust Offshore Wind Accelerator (OWA).

The tripod foundation structure has been equipped with 126 different sensors from the turbine tower down to the foundations, below the water line and also below the mudline, utilising a method of mechanical protection developed by NGI. The comprehensive SEM system was developed by NGI and the long-term monitoring scheme is claimed to be unique within the offshore wind industry in terms of underwater instrumentation. "

[rivaldo] 25/2/2015 07:43

With Fendercare due to complete their work in 2015, this new contract should provide a nice boost for the current year.

[bouleversee] 24/2/2015 12:52

So that's why the price has shot up today!

[rivaldo] 24/2/2015 11:51

Excellent news today - a "significant" new contract with the Royal Navy and BAE Systems:



"Fendercare Marine sign contract with BAE Systems to support the River Class Batch 2 programme

Tuesday, Feb 24, 2015

· Contract signed with BAE Systems Naval Ships for supply of rudder, deck and mooring equipment.

· New OPVs seen as an important step in the Royal Navy’s forward strategy.

World leading marine products and services supplier, Fendercare Marine, is proud to announce the signing of a new significant contract with BAE Systems Naval Ships. The contract is for the provision of rudder blades, rudder stocks, sleeves/liners for rudder stock, anchors, chain and deck equipment for three new Offshore Patrol Vessels (OPVs) for the UK Royal Navy.

“The selection of Fendercare Marine by BAE Systems to support them in this important programme for the Royal Navy, further underlines the industry’s recognition in our abilities to provide a quality and value for money service and approach to defence contracts.” said Brett Ward, Defence Project Sales Manager, Fendercare Marine.

Production of the new Offshore Patrol Vessels commenced in October 2014 at BAE Systems’ facility in Govan, Glasgow. The 90 metre OPV is based on a proven BAE Systems design which is already in service with the Brazilian Navy and Royal Thai Navy. Engineers at BAE Systems have modified the design, ensuring it meets the requirements of the Royal Navy in support of UK interests both at home and abroad.

Fendercare Marine was chosen for this contract based on their past experience working with BAE Systems and track record of working on the Amazonas class vessels.

Fendercare Marine has been a supplier of fenders and marine hardware to the MoD since 1999 and also supports navies throughout the world, winning a $29 million contract with the US Navy in 2012. Fendercare Marine also recently received praise for their fendering support to a flotilla of NATO warships in the Port of Cardiff during the NATO summit.

From a base in the Devonport Royal Dockyard in Plymouth, their Naval Solutions division provides fabrication, welding and coating services for the MoD, having worked on nuclear submarines, warships and naval support vessels.

The new OPVs will include a modified flight deck capable of operating the latest Merlin helicopters, larger stores and more accommodation for embarked troops. The first of class is expected to be delivered to the Royal Navy in 2017, with Fendercare Marine due to complete their elements by the end of 2015."

[santar] 11/2/2015 13:19

All very positive. It's about time the market woke-up to the fact that FSJ is not just another oil service company.

[rivaldo] 11/2/2015 07:28

Expansion for FSJ is encouraging:



"Deeside nuclear industry firm to create 36 jobs
15:48, 5 February 2015
By Owen Hughes

James Fisher Nuclear to expand on Enterprise Zone after backing from the Welsh Government for £1.5m investment

A nuclear industry firm will create 36 jobs with an expansion in the Deeside Enterprise Zone.

James Fisher Nuclear (JFN) has chosen to expand its base in Wales by relocating to larger premises in the Zone.

The £1.5m investment in new premises and equipment is supported by £149,200 business finance from the Welsh Government.

The expansion will bring the company’s head count up to 100 in Flintshire.....

....(JFN), a wholly owned subsidiary of James Fisher and Sons PLC, is an established supplier of high integrity services and equipment for operation in adverse environmental conditions. It employs highly skilled engineers capable of taking on some of the most complex engineering challenges.

Dr Paul Read, JFN Managing Director said “Our award-winning Radiation Calibration Service which supports customers nationwide is already located on the Deeside Industrial Estate.

“This new facility adds significant space for our Non-Destructive Testing division to support our existing customers and expand our customer base. It is also ideally positioned to support Aerospace customers at Broughton and nuclear new build in Wales.”

JFN currently operates from facilities in Queensferry and Deeside which are operating at maximum capacity. The new 26,500 sq ft premises on Deeside Industrial Park will enable the company to invest in digital radiography equipment, reconfigure the factory floor layout to increase efficiencies, and provide space for growth.

“As well as having space for our current operations, we now have the space to set up a state-of-of the art training and development facility” comments Alec Morton. Director NDT and Instrumentation.

The Deeside location is ideally located to take advantage of new build opportunities proposed for Wylfa and Hinkley Point. The company is already involved in the decommissioning of Trawsfynydd.

JFN has a varied blue chip customer base with clients including Airbus, Magnox, Nuclear Decommissioning Authority, Tritech, and Rolls Royce."

[rivaldo] 10/2/2015 07:26

Superb acquisition today - paying a maximum £4.5m for £1m of annual EBITDA plus £1.2m of net assets (£3.2m gross).

You don't get much cheaper than that...and there should be great synergies with Divex etc:



"NHC operates hyperbaric testing chambers which are used for testing equipment for the subsea industry. Its services include reception of personnel for decompression, subsea equipment testing, training services to the diving industry and hyperbaric welding trials to customers worldwide. It also operates a hyperbaric chamber for patients of the NHS Grampian.

Mr David Smith the current owner and Managing Director will step down as Managing Director and all other employees will remain with the business. NHC will become a division of JFD, which was formed by the merger of JF Defence and JF Divex in 2014.....

.....Mike Howarth, Managing Director of JFD, said: "I am delighted with the acquisition of NHC, which further extends our range of services to the subsea industry and consolidates our world leading position in the design, manufacture, testing and operation of hyperbaric reception facilities and other subsea equipment.""

[roddiemac2] 06/2/2015 10:09

Final results will be ---3/3/2015

[citymohawk] 04/2/2015 16:05

Any room for a cowboy? Thanks for the heads up on this Apad.

[emeraldzebra] 23/1/2015 09:17

yes....a little way to my £15.00 target but i think we'll get there !

[painter] 22/1/2015 15:01

About time Mr Market woke up to this one. gla

[rivaldo] 22/1/2015 08:39

:o))

More detail about the £150m Sellafield contract win: