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James Fisher

September 2010

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:
  • 501p
The shares rocketed to £5 after Fisher announced its interim results to 30 June. It wasn’t the numbers themselves but more the news that the tankships division (which ships clean petroleum products around the coasts of Europe) has returned to profit. With this side of the business benefiting from the tonnage tax regime - whereby Fisher pays no tax from vessel related earnings – any profits from this area clearly have a bigger effect on earnings per share than if the same profit had come from another division. Broker Investec has immediately reacted by moving its earnings per share forecast from 38.1p to 41.5p. Its corresponding pretax profit estimate has lifted from £26m to £27m.As it was, there was a 4% lift in pretax prof ...

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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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