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James Fisher - Significant forecast upgrade for FY08

January 2007

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:
  • 610p
Another Sharewatch favourite showing long legs is Fisher, now over £6. During the month, Fisher announced the acquisition of FT Everard for £51.7m (£17.6m initial, £6.1m deferred and £28m of assumed debt). Everard operates a fleet of 11 vessels which move clean petroleum products (CPP) around the coastal waters of Northern Europe for the oil majors and is the second largest player in the market after Fisher, which has 16 vessels. Some eyebrows might have been raised that the deal is a shipping one rather than the marine support services ones we have been used to seeing. However, the deal is strategically important as it eliminates a key competitor and enlarges Fisher’s tankships fleet. ...

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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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