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James Fisher

October 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:
  • 1075p
Another excellent results statement. Overall, H1 sales were up just 7% at £201m but pretax profit and eps were both up 15% at £19.4p and 29.9p, respectively. The previous six month period had seen James Fisher sell its TRE business for £25m and then fill the gap left with the acquisition of Divex, a leader in dive systems for the oil and gas sector (supplying helmets and breathing apparatus), for £21m. This latest results sees a similar capital reallocation exercise with the sale of its 25% interest in Foreland for £11.4m and a simultaneous acquisition of Osiris for £3.3m. As a consequence of all this, Fisher is reorganising its structure so that the Defence division ceases to exist whilst its submarine rescue business is no ...

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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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