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James Fisher - Oil price decline takes its toll

October 2015

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:
  • 1097p
Our recommendation in May to take part profits at 1309p (for a gain of 38%) looks prescient in the light of recent oil price related falls, which caused a subdued set of interims with pretax profit and eps falling 18% and 13% respectively to £20m and 29.5p.Despite a good performance from three of its divisions the main bugbear was Offshore Oil, which hires and sells specialist equipment for the offshore oil industry and saw underlying profit fall 56% to £5.3m as customers delayed all but the most urgent repair activity. Marine support, which supplies strain gauges, rents out fenders and provides ship to ship transfers, produced profits of £7.4m (H1 ‘14: £7.7m) as acquisitions offset loss of a contract. ...

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James Fisher - Resilient results in spite of oil weakness (May 2015)
James Fisher - Gain to date: 40% (October 2014)
James Fisher - Buys Testconsult (August 2014)
James Fisher - Eps forecast upgraded 6% (April 2014)
James FIsher - Shares hit new highs (October 2013)
James Fisher- Marine suport services firm targeting aquisitions (June 2013)
James Fisher - Unaffected by falling energy prices (May 2009)
James Fisher - IMS in line with expectations (January 2009)
James Fisher - One-off problems now behind it (October 2008)
James Fisher - Marine support services firm in hunt for acquisitions (December 2007)

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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