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James FIsher - Shares make it over £10; gain now 93%

April 2013

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:
  • 1022p
The shares headed over £10 following excellent results for 2012. Overall sales were up 18% at £363m. Adjusting for the £20.9m book gain on the sale of the TRE assets, pretax profit and eps were up 15% at £35.4m and 56.1p, respectively. With no acquisitions during the year, the 18% headline figure reflected purely organic growth. Net debt at the year-end was £63m but with these results Fisher has spent £20m on an attractive looking acquisition. The two success drivers were specialist technical and the offshore oil. The specialist technical business led the way with operating profit up 13% to £22.4m, helped by work in Africa (the sizeable BP contract) and Asia Pacific and South America where there has been strong demand for ship-to- ...

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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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