Fisher (james) & Sons Share Discussion Threads

[bouleversee] 04/12/2023 16:23

Sounds OK to me, so why is the share price down so much? Is the decommissioning business normally a major contributor to revenue and profits?

[r88ave] 04/12/2023 12:33

divisions, without Fendercare, which is added to the Tankships division to create Maritime Transport. JFD is the only component of the Defence division.

Energy


H1 2023 H1 2022 change
Revenue (GBPm) 134.0 106.1 26.3%
Underlying operating profit (GBPm) 7.5 6.2 21.0%
Underlying operating profit margin 5.6% 5.8% (20)bps
Return on capital employed 8.2% 6.3% 190bps

The Energy division provides products and services to the offshore wind and oil and gas markets. Revenue growth, at 26.3% was strong in the period, with particularly high demand being seen for well-testing, artificial lift and bubble curtain products and services. Underlying operating profit growth of 21.0% was also delivered, which included the negative impact of an onerous contract provision of GBP1.7m.

Inspection, Repair and Maintenance activities showed strong revenue growth, from GBP38.7m in H1 22 to GBP55.8m in H1 23, with the greatest increase being achieved in the European market. However, despite the notable increase in revenue, a period of inactivity for one of the seasonal chartered vessels has resulted in a GBP1.7m onerous contract provision being recognised in the H1 23 results, holding back divisional earnings.

Artificial lift product sales increased by 42% (H1 23: GBP20.3m vs H1 22: GBP14.3m), continuing the strong market trend seen in the second half of 2022. The order book remains at record levels and our new manufacturing plant in Saudi Arabia which opened during the period will add capacity and additional market capabilities in the Middle East.

Product rentals from the Scantech companies, which includes bubble curtain solutions, increased by 47.1% to GBP32.5m (H1 22: GBP22.1m). A new fleet of more energy efficient compressors was completed during the period and quickly deployed on bubble curtain projects on the East Coast of the USA, a fast-growing and very attractive opportunity for future growth.

The EDS high voltage cabling business delivered strong revenue growth over a weak comparator period (H1 23: GBP16.6m; H1 22: GBP7.9m) and achieved a small operating profit compared to an operating loss in H1 22. The market is continuing to expand at pace globally and the Group continues to believe that the combined offerings of all products and services into this market will deliver profitable growth in the future.

The Decommissioning business had a disappointing half, with a decrease in revenue of 39% vs H1 22 to GBP9.0m (H1 22: GBP14.8m). New tendering activity looks promising for 2024 and a new management team is in place. The medium-term market growth drivers for this business remain attractive.

[darrin1471] 03/12/2023 22:05

r88ave. What percentage of FSJ revenue and profits comes from off shore wind farms?

[r88ave] 03/12/2023 08:27

Given the strength of determination to push for greener energy at recent COP 28 and off shore wind farms I cam see the demand for this company expertise only to get very busy in coming years, Will start to accumulate at these silly prices for my pension pot

[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.