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James Fisher - Cable laying activity finally ditched

April 2006

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • FSJ
  • Price:
  • 498p
Marine support services group James Fisher (FSJl; 498p) is an old friend to Sharewatch. Over the month, we revisited chairman Tim Harris after the group reported another set of results nicely ahead of expectations. Against a market forecast of £15.1m, the group delivered a pretax profit of £15.7m. The year was one of transformation for Fisher. The group’s marine support services businesses, that are its mainstay, performed so well that with profit on continuing operations being up by 32% to £10.7m on sales of £91m, Harris was confident enough to do a kitchen sink job on the non-core cable laying business. One cable laying ship was sold in the year and the other has been savagely written down and desc ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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