The above company has to be brought to Investors attention, with a P/E circa of 8 and news coming from the company that business is in fine shape and with a more or less Monopoly in its Marine Division and Cabel Laying division, a price target of 2.00 cannot be far away.

Make no mistake this is a well managed company, and does well in both Bull and Bear markets, a fine addition to anyones growth portfolio.G

Nicely breaking into new territory and few seem to realise what a good company this is with excellent management. We'll be reading more and more about FSJ in the coming months...

Spot on GH.

Up another 4% today, a bit of momentum gathering behind this one now.

Yup moving up nicely.

James Fisher to buy FT Everard for 23.7 mln stg cash, assume debt of 28 mln stg
AFX


LONDON (AFX) - James Fisher & Sons PLC, a UK provider of marine services, said it has agreed to buy FT Everard for 23.7 mln stg and the assumption of 28.0 mln of debt.

Fisher said it will finance the purchase through existing and new bank facilities.

FT Everard currently operates 11 CPP tankers, nine of which it owns, with four further tankers due to enter service in 2007, and owns and operates Cattedown Wharves - a port facility on the River Plym, Plymouth.

The acquisition is expected to be earnings neutral in 2007.

Fisher said the acquisition will bring a predominantly modern double hulled fleet to the group. It will also benefit cash flow which will help the group to accelerate the expansion of its other divisions; and, the ability to bring FT Everard's fleet into the tonnage tax regime.

When the acquisition is complete FT Everard chairman Michael Everard and MD William Everard will join the board of James Fisher.

Fisher also commented on current trading which it said, overall, is in line with management expectations.

It said the offshore oil services and specialist technical services divisions are trading well in the second half, however, marine oil started slowly owing to an extended summer dry-dock season with mechanical problems identified in two vessels. These vessels have now been repaired and the ships returned to service.

Based on current trading and the expected benefits from the acquisition, the directors view the prospects of the enlarged James Fisher group with confidence.

newsdesk@afxnews.com

slm

Hi Goldfinger. Just been talking about this elsewhere. Plymouth is my home town, not that I live there now and this in my mind is a masterstroke (again) for Fisher to have under it's umbrella. Also, I believe they will have excellent connections in the area and this could well extend to Plymouth's Devonport Dockyard - think, submarine fleet, marine services, refits, nuclear..

There's insufficient stock out there and this company is entering a new league!

Panmure raise Fisher from hold to buy, target 640p. (That could be this week then ;) )

GH Plymouth development could be first class.

Nice to see it s still on a march northwards.

You dont happen to have a copy of the brokers note do you?.

GF, I haven't sorry.

James Fisher unit wins 10 mln stg rescue submarine deal from South Korean navy
AFX


LONDON (AFX) - Marine services provider James Fisher & Sons PLC said its defence unit has won 10 mln stg to deliver a submarine rescue vehicle to the South Korean navy.

James Fisher said the amount will be paid over three years.

newsdesk@afxnews.com

wj

TA looking very strong.

Company also trades on a forward P/E to end of Dec 2007 of just over 18 and a PEG of 0.4.

Given that its in a growth niche area of Nuclear there should be more to come.

Heading on upwards. Nice review in ShareWatch at the weekend, still saying undervalued with a "keep buying" conclusion.

Excelent news.

Cashed in a few tranches here.

Not as relatively cheap as it was going back a year or so.

Holding the balance.

has certainly gone through my mind, however tend to think there could still be some mileage considering the earnings enhancing acquisitions...

GH I have no problems with the stock really, its just a case of of being a tranche buyer I tend to sell off mature tranches in exchange for tranches in cheap undiscovered stocks.

Ive had a couple of more tranches in Silverdell today.

GF, have also now taken some cash off the table as like you by the sounds I've held for a number of years so good to take profits at these highs. I'll keep an eye on Silverdell but looking for something ISAable for the FSJ cash. Good luck!

Yup good trading that GH.

Just found this freebie on the Mike Walters site. Personnaly I have reduced my exposure to this stock (one tranche left) as its looking at the moment fairly valued and I feel I can get more growth elsewhere, but if we see further signs of growth I may add more tranches, heres the article anyway..

Growth Machine
16/1/2007 (119264)

Growth Machine


Tim Harris arrived at James Fisher from P & O just over six years ago. He and his team impressed at a meeting in October, prompting my Steaming Ahead report of October 13, when the share price was 502p.

Now the shares are 624p, and Harris has executed a number of deals, taking spending in the past four years over 100m. All of the signs suggest that he is set to continue building Fisher, which he has transformed from a capital intensive shipping company to a skills-based marine services operator with an emphasis on outstanding capital management.

Check the October report for details of what Fisher does, then go to the announcement on December 6 of the acquisition of F.T.Everard (FTE) for 51m (17.6m initial, 6m deferred and 27.4m of assumed debt), and marvel at how nicely it all fits together.

FTE operates 11 clean petroleum tankers around the coastal waters of the UK, and is the second largest player behind Fisher itself, which has 16 vessels. It also owns Cattedown Wharves in Plymouth, the main clean petroleum terminal for the West Country.

As house broker Evolution points out, historically FTE has generated up to 30m of revenues for its main activities, but recent profits have been hit by the late delivery of new vessels, and by mechanical troubles at two of the fleet.

Fisher is likely to sell and charter the vessels, releasing cash to cut borrowings and allowing the business to benefit from the remarkable tonnage tax regime, which means profits are virtually free from tax so long as the boats are chartered. FTE is awaiting delivery of two new vessels, and four are due. All are delayed, and timing of their arrival will obviously influence profits.

It is probable that the FTE acquisition will be earnings neutral in 2007, with interest and restructuring charges offsetting operating profits. In 2008, profits and cash flow should accelerate, and the broker anticipates operating profits of 4m to 4.5m and free cash flow of 6m to 6.5m. As FTE margins rise to those of the current Fisher fleet, cash return on capital is likely to reach over 14%. Fisher will be operating a fleet of 30 young tankers by mid 2007, after selling the oldest tankers.

Since the half-year, Fisher has been busy. In addition to FTE, it has acquired load-measuring company Strainstall for up to 11m, the net operating assets of the UK Submarine Rescue System (which it already operated), plus a specialist North Sea oil equipment supplier, and formed a strategic partnership with a leading US company to supply inspection and measurement services to the nuclear, defence and offshore industries. Just before Christmas, it also won a 10m three-year contract to supply a submarine rescue vehicle to the Republic of Korea Navy.

Clearly Fisher is rolling forward nicely. Evolution suggests the FTE deal alone could add 5p or 5p to earnings for 2008, and has raised the share price target to 630p. It appears that 2007 earnings could top 30p.

Fisher shares were 502p when I spotlighted them in October, and subsequently dipped below 500p. I suggested picking them up if they should slip back to the 450p to 470p range on a dull day, but they never quite made that. Now? They still look attractive as solid, long-term winners to buy on a dull day.

Ends

GF, interesting read. I have one tranche left too but still reckon with this heading up beyond 7. The recent acquisition of FT Everard I believe is a real coup and not yet fully appreciated by the market.