Thought I'd start a new thread for this one. This month British Nuclear Fuels (BNFL)has come under the authority of the Nuclear Decommissioning Authority (NDA)which has a 48 billion budget from the government to decommission former BNFL sites, estimated at around 2 Billion per year initially. Fisher is set to benefit tremendously from this decision and this has not yet been appreciated by the market (P/E ratio for 2005 12.7).

GF. About what we were saying about the AIM markets at the mo and the need to move into solid earners rather then the speculative stuff, I think Fisher is definately one to switch to. Another favourite of mine is MOS international, which looks like a great play for these markets. Totally overlooked by the press and on the verge of reporting a surge in earnings.

Chad , your right and beleive me Im the type of bloke to say what a load of bollocks, but its not.

Your right Ive gone over MOS many times now but I have to keep to a strict % ( sector.) Thats how I make the dosh. You have to reel the winners off against the losers and beleive me if you have a loser looking sick fundy wise no matter what the charts and Mystic Meg tell you sell and consolidate your losses.

Please remember you can always move back in and tear up the oposition.

cheers GF.

what was the reason for the drop right at the end? buys well outnumbering sells.

Shite markets chad, shite markets..

Still holding, please be patient. Govt contracts on the way.

cheers GF.

James Fisher wins UK MoD submarine contract
AFX


LONDON (AFX) - James Fisher & Sons PLC, a marine services provider, has been selected to supply a turnkey marine project for the Ministry of Defence UK Submarine Rescue Service.

The UK Submarine Rescue Service is the principal submarine rescue asset participating in a NATO international naval exercise off Italy.

newsdesk@afxnews.com


Cheers, Madison

Yes a good contract win.

cheers GF.

Nice to see this moving up today.

GF - besides the Sub Rescue Service project are there more government contracts coming?

Cheers, Madison

And up again this morning on little volume...

Cheers, Madison

Nice to see this breaking out from the June highs. Can we get up past the March/April low-mid thirties highs next?

Hope you're all still there!

Cheers, Madison

Still moving up nicely.

(Seem to be talking to myself on this thread though!)

Cheers, Madison

Don't worry Madison. You are not alone. Nice long-term prospects this one. Nice to see it easing its way up on no news.

Lovely! Breaking out now to a new high...

Cheers, Madison

Countries that have nuclear facilities, vulnerable to terrorist attack, have boobytrapped themselves. It's only a matter of when, not if, some nuclear facility (or material in transit) is attacked, no matter how crudely or ineffectively, that the final nail will be knocked into public acceptability of nuclear expansion, thanks to the tabloid reaction which will surely ensue.

On which cheery note, I too have a holding in FSJ and can see its workload increasing all the more if tidying away the targets becomes a higher priority.

Nice jump today. Still looking cheap though - lots more to come.

chad - there's been a lot of focus these last few days on Fisher's involvement in the Russian sub rescue, and the possibility of a rollover on the MOD contract and other future shipping possibilities. The sp rise has been connected with this and perhaps overshadowed the other important factor (outlined in your thread title).

This week the NDA (Nuclear Decommissioning Authority) publishes its draft strategy and nuclear clean up costs are going to be revised upwards significantly. Could be a lot more to come.

Cheers, Madison

From the Telegraph this weekend:

Small cap values

James Fisher

The rescue of the Russian submarine was real Boy's Own stuff, made more heroic when it emerged that a little Cumbrian company was responsible. James Fisher, with a market capitalisation of 175m, supplied the Scorpio 45 and its crew to the Ministry of Defence.

The risk with the shares is that the company will fail to get some of its contracts renewed, not least the MoD Scorpio 45 contract whose future is unclear. However, the company is highly cash generative thanks to its oil delivery business and it uses this cash to make sensible acquisitions.

Analysts forecast the company's profits to increase from an estimated 14.8m this year to 15.6m next year. Questor tipped the shares earlier this year, and they have climbed 10pc. The shares, at 352p, on a forward PE of 13 and with a dividend yield of 2.5 still represent good value.

Smaller natural resources, a richer seam to mine | James Fisher | Hamworthy | Home Entertainment


Cheers, Madison

More coverage from the Sunday Telegraph today:

James Fisher

Five years ago James Fisher (352.5p) was a pretty dull coastal ship owner. Since then it has been transformed into a marine services group. We first tipped the shares at 106.5p in March 2002, giving readers who followed our advice a hefty 230 per cent profit. So do the shares have further to go?

The dramatic rescue of the crew of a Russian submarine last month by a team working for a Fisher subsidiary has helped boost the group's profile. Meanwhile, the rise in oil prices is generating more marine services business and the cable laying operation is doing well.


Interim pre-tax profits announced last month slipped by 13 per cent, but the operating result is more healthy - a rise of 8 per cent. Analysts forecast a full-year profit of 15m, putting the shares on an undemanding earnings multiple of about 14. The shares should have further to go.

Cheers, Madison

I endorse that Madison.

The strategy advances superbly. Look at Monyana's turnover, pretax profitss and assets...unless I've missed something in my very limited available time this am, this looks to be a wonderful deal:

Fisher (James) & Sons PLC
16 September 2005

James Fisher and Sons plc
('James Fisher' or 'the Company'):
10.75 million UK Acquisition

James Fisher, the marine services company, announces that it has signed an
agreement, subject to due diligence, for the acquisition of the business and
related companies of the privately-owned Aberdeen and Stavanger based
partnership Monyana Engineering Services ('Monyana') for a consideration of
10.75 million in cash. The consideration will be funded out of existing
resources.

Monyana is the market leader in refurbishing, designing and supplying a large
range of hydraulic winches and marine equipment for rental and sale to the oil
field services industry. Its acquisition provides James Fisher with a much
increased penetration in a market segment in which its Scan Tech subsidiaries
are already active in both the UK and Norwegian sectors of the North Sea. It
represents a major step for the Marine Services Division, as well as a
substantial expansion of the company's activities in Aberdeen and Norway,
continuing to build on the core expertise of applying operational and
engineering skills in the marine sector.

The consideration for Monyana of 10.75 million will be paid in cash on
completion. In the year ended 31 March 2005, Monyana had a turnover of 5.3
million and a pre-tax profit of 1.6 million. Gross Assets at that date amounted
to 5.3 million.

Monyana has a total of 38 employees at its main location in Oldmeldrum near
Aberdeen, together with eleven acres of freehold warehousing and storage
facilities and a regional office in Stavanger, Monyana Eurotech AS. Monyana is
also UK agent for the distribution of products from Ingersoll Rand, the US based
winch and hoist manufacturer.


Tim Harris, Chairman of James Fisher, said:

'The acquisition substantially strengthens James Fisher's growing Marine Support
Services Division which, for the year ended 31 December 2004, contributed 46% of
the Company's operating profit against 15% two years ago and represented 27% of
assets employed. It complements and overlays our existing businesses in
Aberdeen and Stavanger, providing quality services to the offshore industry.'

The founding partners, Jim Rogerson and Sandra Rogerson and Jake Lorimer, said:

'We established Monyana in 1984 and have grown it to become a market leader. In
James Fisher we are confident that we have found the right strategic home for
Monyana and our employees. We are committed to remaining with the business and
growing it further within James Fisher'.

Jim Rogerson and Jake Lorimer, will remain with the business and the company
will continue to operate from its original base.

EC Hambro Rabben and Partners Ltd acted as corporate finance advisors to James
Fisher for the acquisition.

ENDS

Cheers, Madison