Updates

James Fisher - Sells one of its two cable layers

October 2005

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.

More new highs this month after James Fisher announced that it has sold one of its two cable layers, the Oceanic Pearl, for US$20.1m (£11.1m), slightly sooner than expected. The vessel has been in layup since 2002 although still under charter to General Dynamics under the previous long-term contract. The charter is scheduled to expire in December 2006 but Fisher will keep the remaining charter income which amounts to US$8.2m (£4.5m) despite the disposal. Oceanic Pearl had a book value of £20.9m at the end of August, so there will be a £9.8m loss on disposal. Fisher still retains the other vessel, Oceanic Princess, on charter to General Dynamics until June next year. The same day, Fisher also announced that ...

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James Fisher - Sells one of its two cable layers

October 2005

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