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James Fisher - Ship-to-ship oil transfer buoyant

September 2012

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:
  • 719.5p
The first set of results reported under Charles Rice as chairman were also well received with the shares moving to £7. Regular Sharewatch readers would have politely yawned as we suggested these results would be very good in July.And so it proved. For the six months to 30 June sales were up 27% to £188m. Pretax profit and eps was well ahead of forecast - up 21% to £17.1m and 16% to 26.4p respectively. Cash conversion was 105% and net debt dropped to £99m (11: £106m).The two success drivers were again specialist technical and the offshore oil businesses. The specialist technical business led the way with operating profit up 16% to £10.6m, helped by strong ship-to-ship transfer activity. The BP contract in Angola has co ...

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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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