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James Fisher - One-off problems now behind it

October 2008

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.

Some largely one-off problems related to a single division turned what should have been a barnstorming performance in its first half into a very respectable one. In the six months to 30 June pretax profit increased 16% to Â£11m on turnover that rose 29% to Â£114m. The growth was led by the offshore oil side, which rents out equipment such as compressors, steam generators and lifting equipment and increased operating profit 28% to Â£5.8m. While acquisitions accounted for 11% the other 17% came organically, with demand driven by the high level of industry activity on the back of the high oil price. Another strong performer was the specialist technical division, which increased profit 33% to Â£4.1m. Both its main businesses, i ...

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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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