I am also a long term shareholder, been in since around 70p from memory.
Fisher is now a part of the FTSE 250 so it's much more investible by institutions than it used to be as a small cap.
Also it's seen as exposed to the Oil and Gas industry and although the offshore oil division has been scaled back since the fall in oil price it's still a drag on the company and has yet to return to growth.
Although the company is positioning itself well for the medium and longterm the problem is that in the short term its not making much progress and the shareprice is pricing in better growth, so the shares have been fluctuatiing in the £15-17 range for quite a while now.
It will take some big deals rather than bolt-ons and some upgrading of earnings expectations for it to move out of the current range. I think it will happen - but I don't know when, and if I did I would be much, much wealthier!
We are very long term holders. The day to day/week to week volatility in the share price seems rather surprising given that the company operates in reasonably stable markets/segments. Any comments? Thank you.
The first three large trades went through within 5 minutes of each other ; the fourth went through some ten minutes after the third. They were likely to be the same seller, and probably four different buyers . (143,794 at 1580p and 75,397 at 1578.42p) ---Everyone has to sell at some stage , and there are many reasons for selling . I see nothing sinister in the latest deals.The shares are fairly highly rated , and deservedly so in my opinion .I am happy to continue to hold.
Weird share price movement following today's solid results. The shares rose at first but around midday there were a few transactions involving about 250k shares, following which the shares retreated. Any clues? Thank you.
Profit in the second half is likely to benefit from the phasing of projects across our renewables businesses due to seasonal factors and across our offshore oil businesses due to some improvement in oil and gas sector demand. We would therefore expect to see good growth from our Marine Support division. In Offshore Oil, orders in our Norwegian and our downhole equipment businesses have begun to show clear signs of recovery. Our Specialist Technical businesses continue to trade well despite some slowing in our nuclear decommissioning activities. Tankships maintain its good performance of recent years. Overall, we therefore expect to see stronger growth for the Group in the second half leading to a good improvement in the result for the year.
I know what yo mean.-------------------------------------------------------------------------------------------------
I am experiencing slight nausea and dizziness on an almost daily basis: suspected labarynthitis.
This caused me to cancel my attendance at the AGM of CML Microsystems today.
I am comfortable holding FSJ for reasons oft explained ( mostly on ADVFN ), so no sea sickness for me, and FSJ is definitely not the cause of my inner ear problem! We already know that interim results will be similar to last year " trading in the first half is likely to be similar to last year with growth weighted to the second half"
"The last trade at 16:35 is a "UT" uncrossing trade and can generally be ignored. For those of you who want to know how it is calculated:
The Uncrossing Algorithm performs a series of passes within an individual market, matching the best bids and best offers present in the price time sequence.
When all crossed volume has been matched, an Uncrossing Trade Price can be determined for the market. This price is found by applying one of the following calculations.
The calculation used is determined by the presence of residual limit volume within that market following uncrossing.
The four possible cases are:
There is no remaining bid or offer limit volume in the market Uncrossing Trade price = the average of the bid and offer price from the last match.
There is remaining limit offer volume but no limit bid volume in the market
Uncrossing Trade Price = offer price from last match.
There is remaining limit bid volume but no limit offer volume in the market
Uncrossing Trade Price = bid price from last match.
There is remaining limit offer and limit bid volume.
To determine the Uncrossing Trade Price in this case:
Determine what the Best Offer Price is. Determine what the Bid Price is from the last match. Take the lowest of these. This is known as the High Price.
Determine what the Best Bid Price is. Determine what the Offer Price is from the last match. Take the highest of these. This is known as the Low Price.
The Uncrossing Trade Price is the average of the High Price and Low Price. If this value is halfway between two tick values the price allocated to all uncrossed business will be rounded towards zero (rounded down if the value is positive, rounded up if the value is negative).
If no matches occur within a market there will be no Uncrossed Trade Price for that market."
As is usual on most days , trades today were predominantly small . perhaps a broker has been recommending the stock; I know not.
I first bought FSJ at 104p. in Nov 2001: then an unexciting but solid value play. When Tim Harris became chairman, with a vision to move into marine services , I bought more. I sold most of my holding between £6 /7 a few months before the credit crunch , and started buying them back at £3.40 after the dust had settled in late 2008. Age and a limited income has forced me to sell some in the last two years, but FSJ is still my largest holding
The transformation of the business over the last ten years has been very well executed . There should be more to come. As I have often said --the sea is the last frontier.
British scientists exploring an underwater mountain in the Atlantic Ocean have discovered a treasure trove of rare minerals.
The recent news that a mountain of rare mineral bearing rock has been discovered on the ocean floor bears witness to what is likely to be a race to mine at great depths . FSJ must have many of the technologies and capabilities that will facilitate the inevitable; there is likely to be enormous activity in our lifetime.
Finally the Bod have made positive comments about Trading in the oil and gas division and about maintenance contracts for the Norwegian base. I doubt this would be the case unless they'd really seen a change in trading.
Stability and possibly even growth in this division should certainly give the current year a good start.
I'm calling it a hold as its by far my largest holding and has been for quite a while - though I'd be tempted to reinvest at least part of the divi on any weakness in the SP,
The trading statement and the Shanghai contract win bode well and should more than compensate for a slow oil market and the delay in nuclear decommissioning.. The statement reaffirmed the outlook for the year that was in the half yearly report and all this, plus currency, should mean a profit increase, it is just a question of how much. Nuclear work will come in time and FSJ continues to be a very interesting niche company and well worthwhile backing. I added a few more yesterday and it is only the relatively high PE that restrains me further.
Yes, very solid results, and the promise of more growth to come: a great business in the making. I expect long term holders to continue to be rewarded.
"The Board believes that James Fisher remains well placed to provide further growth and value for its shareholders. The Board has agreed a 10% increase in the interim dividend to 8.55p per share (2015: 7.80p) payable on 4 November 2016 to shareholders on the register on ----"
You are nothing if not predictable! The shares went down to the low 900`s on fears that the business would suffer badly because of oil. The bounce back since was bound to see profit taking sooner or later . FSJ still look a better long term investment than most, regardless of what economies do . Suggestion---If we leave the EU and all shares suffer as a consequence , --buy more. I don`t share your apparent nervousness.
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