Updates

Fisher (James)

August 2024

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.

Since my last update, Fisher has completed the sale of RMSpumptools for £83m net - or 7.4x EBITDA. This is CEO Jean Vernet’s eighth disposal since joining in September 2022 generating c.£140m to significantly reduce leverage to 1.5x. Although FY24/25 eps forecasts have been revised down to 6.9p/18p to reflect this disposal, Fisher is being transformed into an asset-light services group, with 15 businesses focusing on three growth markets: Energy, Defence and Maritime Transport. The Energy division (sales of £266m and profit of £15.7m in FY23, both c.+10%) is left with significant operations including Scan Tech, Fisher Offshore and JF, which are driven by energy security. The residual businesses rent tools and provide servic ...

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Luceco - Margins head northwards to 11.5%

Growth Portfolio 3 - August '24

Fisher (James) (March 2024)

Fisher (James) (April 2023)

James Fisher - Higher energy prices underpin opportunities (August 2022)

James Fisher (September 2015)

James Fisher (October 2013)

James FIsher - Shares make it over £10; gain now 93% (April 2013)

James Fisher (January 2013)

James Fisher - Ship-to-ship oil transfer buoyant (September 2012)

James Fisher- Focus in Asia Pacific (July 2012)

James Fisher (June 2012)

James Fisher - Emerging markets focus (September 2011)

James Fisher - Focus on emerging markets (April 2011)

James Fisher (November 2010)

James Fisher (September 2010)

James Fisher (July 2010)

James Fisher (May 2010)

James Fisher (April 2010)

James Fisher (January 2010)

James Fisher (October 2009)

James Fisher - Tim Harris - a safe pair of hands (September 2009)

James Fisher (April 2009)

James Fisher (December 2008)

James Fisher (September 2008)

James Fisher (June 2008)

James Fisher - Fantastic results (April 2008)

James Fisher (March 2008)

James Fisher - Share price soars (November 2007)

James Fisher - Most benefits flow next year (August 2007)

James Fisher - Significant forecast upgrade for FY08 (January 2007)

James Fisher (December 2006)

James Fisher - Eps enhancing acquisition in technical services (November 2006)

James Fisher - Beats forecasts by wide margin (October 2006)

James Fisher (July 2006)

James Fisher - Cable laying activity finally ditched (April 2006)

James Fisher - Sells one of its two cable layers (October 2005)

James Fisher (September 2005)

James Fisher (May 2005)

James Fisher - Nuclear decommissioning market wide open (April 2005)

James Fisher - Nuclear decommissioning acquisition (January 2005)

James Fisher - Acquisitions expected in area of nuclear technical services (September 2004)

James Fisher (June 2004)

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.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X

Fisher (James)

August 2024

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