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

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.

Fisher (James) & Sons PLC
16 February 2007


James Fisher and Sons plc

('James Fisher')

Appointment of Stockbroker



James Fisher and Sons plc, the leading provider of marine services, announces
the appointment of Investec Securities as its stockbroker.



-ENDS-



Contacts


James Fisher and Sons plc Tim Harris Chairman 020 7614 9508

www.james-fisher.co.uk

James Fisher wins order for submarine rescue service with Singapore Navy
AFX


LONDON (AFX) - Marine services company James Fisher & Sons PLC said its unit James Fisher Defence Ltd (JFD) and its partner Singapore Technologies Marine Ltd, part of Singapore Technologies Engineering have won a 20-year contract to deliver a comprehensive submarine rescue service to the Singapore Navy.

Financial terms of the contract were not disclosed.

James Fisher Defence will design and supply the complete submarine rescue system, and maintain the rescue assets

It said the contract, which will run until 2029, is estimated to replace the revenue and net earnings from JFD's current contract to operate the UK Submarine Rescue system, which is expected to come to an end in 2008.







newsdesk@afxnews.com

bsu/rar

Very solid results reported today. Certainly going in the right direction...

Marine Support profit lifts Fisher & Sons
MoneyAM
James Fisher & Sons reported a 42% rise in full-year underlying profits on a 29% rise in revenue.

The firm said that trading for 2007 to date has been in line with its expectations.

James Fisher reported a profit before tax and exceptionals of 15.9m for the year ended December 31st, compared with 11.2m a year prior as revenue rose to 118.1m from 91.4m.

The company lifted its final dividend by 15% to 6.54p.

The group, which provides specialist support services for the offshore oil industry and the defence sector, said its Marine Support Services division contributed over 70% of the profit.

Profits from the Offshore Oil Services divisional rose 82%.

According to broker Evolution, Fisher's pretax profits were expected to rise to 15.7m, making EPS of 27.1p against 18.2p.

Positive this morning.

Presently sitting on a 387% gain since may 2003.

Was going to take a profit but then changed my mind when I reviewed the nuclear operations going forward.

With you there gf! Looks to me like we're ready to retest the 640 highs after a nice consolidation period. A break there signals our next ride into uncharted waters to 7 and beyond in my opinion. Definitely hold for more here now. Integrations all on schedule and probably more around the corner to grow this group further.

GH, yep things look bright here.

GH, GF, thanks for your input here. I don't know the company but agree on a chart basis that things could get interesting if the January high is breached with decent volume accompanying.

It's a robust outfit, excellent management and they're carving out for themselves a real niche market. I have to now consider that upwards of 640p this becomes a buy again. I don't think we've heard the last of the FT Everard acquisition in Plymouth - only because I know of this company, Plymouth being the town I grew up in and suspect they themselves are growing rapidly, so will add to eps.

Thanks GH.

Have put it on my watchlist.

goldfinger - have you looked at cosalt (CSLT), reckon you'd like it - reminds me so much of this stock back a few years. Good profitable manu company in protective clothing and safety equipment. Good growth going to come out of Europe/US in my opinion.

Further expansion to the marine division in today's acquisition and additional cost savings to be made as they move to Fisher's site near Aberdeen. I would expect to see us heading back up to the 640p highs soon to finally break that level. There's been quite a bit of resistance this month but this is only good for setting up the next rises IMO.

Good news....

James Fisher sees H1 trading modestly ahead of its expectations
AFX


LONDON (Thomson Financial) - James Fisher & Sons PLC said it sees first-half trading to June 30 modestly ahead of its expectations.

The marine services company said the first-half will bear all the one-off integration costs related to the merger of the Everard tankships operation into James Fisher Tankships to form James Fisher Everard. The merger is now substantially complete and the benefits are coming through, it added.

The company, in a pre-close trading statement, said the first three Everard new builds have been successfully refinanced on schedule as bareboat charters, reducing debt by 22.7 mln stg.





TFN.newsdesk@thomson.com

gf, should start to see it head back towards the 630's all being well.

Fingers crossed GH.

Activity has been a bit lacklustre over the last few months but taking a look at the graph over the longer term this continued consolidation looks good for building on the next moves higher. Nice to see it bucking the trend today at least!

Yep one of my few blues today.

Sure you're not alone there, looking better already this morning!

Just when we least expect it Fisher decides to put in a spurt, now getting back to these all time high levels for an eventual breakout.