gretel
24 Apr 2015
NATO contract win for FSJ Nice...."James Fisher Defence wins NATO sub rescue support contractRichard Scott, London - IHS Jane's Navy International 22 April 2015Key Points•Company wins GBP12.5 million in-service support contract for NATO submarine rescue service •Contract commences on 1 July 2015, running for five years (with options to extend by up to three years) UK-based undersea systems and services group James Fisher Defence (JFD) has won a GBP12.5 million (USD18.7 million) contract to provide in-service support for the NATO Submarine Rescue Service (NSRS).Under the terms of the contract, awarded by the UK Ministry of Defence (MoD) in March 2015, JFD will provide in-service support for a five-year period starting on 1 July 2015. The contract includes options to extend by up to three years.Jointly owned by France, Norway, and the United Kingdom, the NSRS is a globally deployable submarine rescue system currently operated through a government-owned/contractor-operated (Go/Co) arrangement. The full system, specifically packaged for deployment by air, comprises several components: a Submarine Rescue Vehicle (SRV), capable of lifting up to 12 survivors from a distressed submarine at 610 m and inclined at an angle of up to 60 degrees; a Portable Launch and Recovery System, capable of launching and recovering the SRV in up to 5 m sea height; a Transfer Under Pressure System, consisting of two large recompression chambers and supporting equipment; an intervention system centred around an intervention remotely operated vehicle (IROV) to assess and prepare the distressed submarine for rescue, and to maintain survivable conditions therein; and support equipment, including generators, spares, workshops, communications, tracking, and navigation.The UK MoD issued an invitation to tender for the NSRS in-service support package in July 2014 to JFD, Phoenix International, and Rolls-Royce (the latter being the original prime contractor and incumbent support provider for NSRS). Tender responses were submitted to the MoD's In-Service Submarines team in late 2014.JFD previously operated the national UK Submarine Rescue Service (UKSRS), including the LR5 SRV, up until its retirement in November 2008. The company subsequently assumed ownership of the UKSRS assets - comprising LR5, a Scorpio 45 IROV, associated launch and recovery systems, a deck reception chamber, three one-man decompression chambers, and workshop, electrical, mechanical, and support containers - and re-branded the capability as the James Fisher Submarine Rescue Service (JFSRS).JFD has, since December 2008, provided the JFSRS as an on-call submarine escape and rescue service for the Royal Australian Navy (RAN). In November 2014, the company was awarded a contract by the Commonwealth of Australia for the long-term provision of the RAN's submarine escape and rescue capability for the next five years, plus options through to 2024.Separately, JFD is a partner in First Response Marine Pty. Ltd with Singapore Technologies Marine. First Response Marine is a commercially owned and operated submarine rescue service under contract to provide a complete submarine rescue capability to the Republic of Singapore Navy. This service, extending through to 2029, is principally delivered by the mother ship Swift Rescue , built by ST Marine, and the JFD-built SRV DSAR-6."
gretel
17 Apr 2015
Major contract win "Major" new contract win for Fendercare - another rather prestigious customer, and nice long-term revenues....[link] "Fendercare Marine sign contract with Defence Support Group for provision of wet blast facilities Tuesday, Apr 14, 2015 · Wet blast provision to be provided on AM2 Helipad matting · Demonstrates the versatility of the Blastgreen wet blast services offered by Fendercare Marine · Contract win provides further evidence of the close working relationship between Fendercare Marine and Defence organisations Fendercare Marine, the world leading marine products and services supplier, has announced the signing of a major new contract with Defence Support Group (DSG). The three-year frame agreement is for UK wide sub-contracted general engineering services for blast-cleaning on items such as AM2 Helipad matting. The Defence Support Group provides assembly, maintenance, repair, overhaul, upgrade and support services for the UK Armed Forces including current and future MOD equipment acquisition and support strategies. In December 2014, Babcock International purchased the Defence Support Group in a deal worth £140million. The deal included a ten-year contract with Babcock to maintain, repair and overhaul the British Army’s vehicles and light weapons, including Challenger tanks and Warrior armoured vehicles, which carry infantry soldiers into combat. The wet blast facilities are provided through Fendercare Marine’s subsidiary company Blastgreen who design, develop and manufacture wet blast cleaning equipment for sale, hire and service. Their wet blast machines do not use chemicals or toxic abrasives but instead use a combination of water and natural, environmentally friendly media - Olivine and Garnet. The water and media are combined and applied in minimum quantities ensuring the blast jet is easily contained, with a minimal dust cloud and very little waste. Brett Ward, Defence Project Sales Manager commented “We are delighted to have been selected by DSG for the provision of their blast cleaning requirements. Following on from our recent contract agreement with BAE Systems for equipment to supply their OPVs, this just demonstrates the breadth of quality products and services that Fendercare Marine can deliver.”Blastgreen’s wet blast service has proved a popular and versatile addition to the Fendercare Marine portfolio of services. Blastgreen was originally purchased by the Group for use with boat builders and marinas due to its excellent performance coupled with its environmentally friendly “green” credentials. However, the versatility of the Blastgreen service soon became apparent with contracts being secured for wet blast facilities at airports, the London underground and for white line removal on the countries roads. Fendercare Subsea Services also use wet blast facilities on many of their underwater operations – proving it effectiveness both above and below the water. Fendercare Marine has been a supplier of services including marine hardware to the MoD since 1999 and also supports navies throughout the world, winning a $29 million contract with the US Navy in 2012. Fendercare Marine also recently received praise for their fendering support to a flotilla of NATO warships in the Port of Cardiff during the NATO summit. Earlier this year, Fendercare Marine announced a significant new contract with BAE Systems Naval Ships. The contract is for the provision of rudder blades, rudder stocks, sleeves/liners for rudder stock, anchors, and chain and deck equipment for three new Offshore Patrol Vessels (OPVs) for the UK Royal Navy. "
albent
06 Apr 2015
Established income payer, in a solid financial position with a proven track record. Anyone interested can see an infographic on FSJ [link]
gretel
03 Mar 2015
Panmure Gordon upgrade Nice - Panmure Gordon have upgraded to Buy from Hold, and have an increased 1500p price target (from 1300p):[link] "James Fisher & Sons plc Upgraded to Buy at Panmure Gordon (FSJ) Posted by Seth Barnet on Mar 3rd, 2015 // No Comments James Fisher & Sons plc logoPanmure Gordon upgraded shares of James Fisher & Sons plc (LON:FSJ) to a buy rating in a research report released on Tuesday morning. Panmure Gordon currently has GBX 1,500 ($23.12) price objective on the stock, up from their previous price objective of GBX 1,300 ($20.03)."
forddrive
03 Mar 2015
J Fisher Solid results have been delivered yet again. We have held these shares for 15 years, and will continue to do so.
gretel
03 Mar 2015
Results ahead of expectations Excellent results - the 79.2p reported EPS and the 74p diluted is well ahead of consensus 73.52p EPS, and the 22p dividend is right on target.The outlook statement is also nicely positive, despite the expected downturn in offoshore oil, which FSJ state doesn't affect them much given their involvement in production and development rather than exploration and appraisal.Gearing remains reasonable, so plenty of room for further acquisitions as well as today's purchase.Also, another earnings-enhancing acquisition paid for from cash:[link] well as £0.7m EBITDA, FSJ get almost £3m of net assets - for an initial £3.4m consideration. A pretty good deal given the balance is dependent on profitability.
claude reins
03 Mar 2015
Finals Results good and well received by the market. Outlook mentions some softening ahead in Marine Offshore but not serious. Same sort of comment made by Pressure Tech Chair at their finals, and they tanked. FSJ less dependent on new business, and lower % of their sales in this sector, but just a thought. DYOR but best to read through the Outlook section carefully IMHO.Hold or even weak sell on expectation of weaker next trading statement.
forddrive
02 Mar 2015
J Fisher The current price seems to anticipate solid but maybe not exciting results this week. However the hoped-for "solidity" is what this share should be about. We will see.
gretel
11 Feb 2015
New acquisition is cheap Superb acquisition - paying a maximum £4.5m for £1m of annual EBITDA plus £1.2m of net assets (£3.2m gross).You don't get much cheaper than that...and there should be great synergies with Divex etc:[link] "NHC operates hyperbaric testing chambers which are used for testing equipment for the subsea industry. Its services include reception of personnel for decompression, subsea equipment testing, training services to the diving industry and hyperbaric welding trials to customers worldwide. It also operates a hyperbaric chamber for patients of the NHS Grampian. Mr David Smith the current owner and Managing Director will step down as Managing Director and all other employees will remain with the business. NHC will become a division of JFD, which was formed by the merger of JF Defence and JF Divex in 2014..... .....Mike Howarth, Managing Director of JFD, said: "I am delighted with the acquisition of NHC, which further extends our range of services to the subsea industry and consolidates our world leading position in the design, manufacture, testing and operation of hyperbaric reception facilities and other subsea equipment.""
binjiou
06 Feb 2015
Final results Final results will be ---3/3/2015
forddrive
30 Dec 2014
J Fisher Well I still don't understand the reason for what looked to me like a substantial liquidation of a position about 4-8 weeks ago. However having stabilised at these levels I am confident that there will be a gradual return to near previous highs i.e. around the £15 mark - but it may take time. Happy New Year to all shareholders!
gretel
29 Dec 2014
Tipped in the Times As one of the stocks for 2015:[link] "James Fisher James Fisher provides specialist marine services — from tanker chartering and crew management to security — often sold as contract packages for oil rigs. The group’s breadth of expertise effectively limits competition. Sheridan Admans, of the Share Centre, says: “This pick is for growth investors looking for a company that provides niche services around the globe. “The decline in the oil price is not expected to impact trading at the group’s offshore oil division, as the majority of its work is linked to maintenance and production, rather than exploration. Directors recently bought shares and an improving cash flow could have the potential to boost dividend growth.” "
gretel
22 Dec 2014
FSJ tipped as a Buy for 2015 The Share Centre this weekend tipped 6 stocks for 2015 - and FSJ is the first choice:[link] "James Fisher Admans said: “James Fisher provides a range of marine specialist services which can be integrated into contract packages for oil rigs, wind farms, transporting oil, wharf operations and marine equipment, creating an expertise and limiting competition. It is an investment idea for growth investors, looking for a company that provides niche services around the globe.” “The group has benefited from contract wins with oil companies not only in the North Sea region, but also Africa, Asia and South America. Furthermore, the decline in the oil price is not expected to impact trading at the group’s offshore oil division, as the majority of work is linked to maintenance and production, rather than exploration.” “Directors recently bought shares and an improving cash flow could have the potential to boost dividend growth. We are keen to highlight the long-term attractions of the company and recommend them as a ‘buy’ for investors in 2015.”"
binjiou
04 Dec 2014
Ignore last post Apologies ---last post was in error---CML discussion
binjiou
04 Dec 2014
ORBCOMM Inc. Agreement with ORBCOMM Inc.CML will have 3 chips in each satellite launched . This is a significant agreement that will run for five years.I will try to get more info. in due course.
