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James Fisher - Emerging markets focus

September 2011

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:
  • 547p
Reflecting the trading pattern of recent times, latest interim results to 30 June show three of the four divisions continuing to make progress. Overall, Fisher reported sales were up 12% to £148m for the first six months, which led to a 9% increase in group operating profit to £17.4m. Although net debt was similar at £105m, the interest margin was higher, resulting in pretax profit up by 5% for eps up 8% to 23p. The Specialist Technical business (45% of sales) saw sales increase by 13% to £66.6m but its contribution fell by £0.6m to £9.3m. Nothing untoward here but the shortfall was mainly because the prior year had been exceptionally strong. Chairman Tim Harris notes that the previous year had been driven by strong contango ...

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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.

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

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