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I reckon so too. My average is just under 350 so I'm almost back in the money!
Got absolutely clobbered by the pandemic but the new guys seem to know their stuff. Get the debt paid down further and make JF an acquisition target... plenty to like here for the medium term.
still a bargain
Rns
Thought it was today?
As previously stated the RNS is what will make the difference but trading looks much better and my half full side is feeling positive for a slow climb back to sensible levels.
Proof of pudding is in the next rns but hopefully the ship is back on an even keel....
Seems the worst is now in the rear view mirror. Adding here on drops.
Notwithstanding a drop in the overall market that whacks everything, this share has been grinding in a low zone for quite a while now, and is today at a noteworthy recent low.
It's an unloved share, thinly traded, lots of gloom and despondency; unless there are any further skeletons to declare, then today might prove to be a buying opportunity. I added some at 295p, as a return to the high 300's or even the 400's seems reasonable. It seems a bit undervalued, and it's also a bit niche; it might be a takeover target, or maybe it can pull itself out of its malaise by itself.
GLTA
I am content with the update. Things are definitely heading in the right direction. Once the refinancing is cleared up this shoul see 400p again easily.
All we can do is speculate but my gut feel is that you are correct
Is this all concern over the delay to publishing 2022 results?
They will have to get the Swordfish back soon so they can send a diver to find the SP....
slow and stead wins the race but there will be dips ahead to buy in lower. Shocking the capital destruction here.
I noted the positivity even went as far at this phrase in the news report....
effort ! we need an activist on the Board to shake it up.
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The disposal is part of the company's effort to "rationalise and focus" its portfolio, it said.
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Think this is divesting all the rubbish and will be left with the core. Seems a bit harsh though. Think we can kiss good bye to fast turn around though. Going to be long and boring.
firesale not filesale. Buying dips and trimming but what an effort with this one.
Filesale and cash crunch looming
Looking hard - nope still not seeing the positivity. TBH Surprised it is not revisiting lows again so grateful for that.
But seeing
# sold for £3 ! and still keeping the guarantees ! and woolly words like certain limited counter indemnities / limitied undertakings. Not my idea of a clean sale.
# risk of breaching covenants yet offering guarantees
# not buying the unique and valuable business junked for £3, as it enters a growth phase - seems like a firesale?
James Fisher (extracts RNS)
# announces that it has sold the entire issued share capital of James Fisher Nuclear Holdings Limited and related properties. For a nominal consideration of £3 ! - the pirce of one James Fisher share OMG.
# these guarantees will remain with James Fisher following completion of the transaction although certain limited counter-indemnities have been put in place. The Group has also received certain limited undertakings and information rights in respect of the principal parent company guarantee remaining in place following completion.
# an unsecured loan of £1.2m which has been made available by the Group to JFN will remain outstanding.
# anticipated that the amount outstanding under that loan will be repaid by JFN shortly after completion.
# In addition, the Group will make a secured interest-bearing term loan facility of up to £3.5m available to JFN.
# for a nominal consideration of £3. As a result of the transaction the Group will impair the value of goodwill and tangible fixed assets associated with the business in its results for the year ended 31 December 2022.
Commenting on the sale, Chief Executive Officer, Jean Vernet, said:
JFN has some valuable and unique capabilities.
Trading update for the year ended 31 December 2022
The Specialist Technical division experienced a disappointing year, with JFD at a trough in its long-term projects cycle and JFN, which will be reported as a Discontinued Operation, reporting an operating loss following ongoing project challenges.
For the year ended 31 December 2022, the Group is expecting to report revenue from continuing operations of c.£475m (2021: £442.4m). Underlying operating profit from continuing operations is anticipated to be in line with 2021.
# Net bank borrowings at 31 December 2022 were c.£135m, with the Group expecting to remain within its banking covenants.
# The Group has commenced discussions with its lending group regarding existing borrow which have maturity dates ranging from October 2023 to September 2024.
Notice of Results Announcement
The Group's full year results will be published on 28 March 2023, two weeks later than had originally been planned, reflecting the significantly higher-than-normal levels of recent corporate activity and consequential impact on audit timetable.
and up it goes lol - aren't markets wonderful.
Tbh reading the JFN glassdoor and recent hr tribunal in the press was a red flag..giving it away for £3 implies something has gone seriously wrong over there..revenue increasing but operating profit stagnant overall, so margin gets worse again..I have to say this is looking like a basket case indeed.
What is going on - looks like a basket case - probably rally up 40% lol.
Shocked to be honest... kept all the debts godwill impairment and projected losses.
280p or £5
Adding on weakness sub £3 / £3.20.
Today is certainly slow in terms of trading activity with FSJ. A preliminary announcement is expected 14th March, and I'm anticipating a flurry of trading activity on the run up to this, which will hopefully drive up the share price. This is quite heavily based on last years activity at least. I'm new to all of this and keen to hear your thoughts/insight/advice as it all helps to build a picture and make informed decisions (or at least that's the plan!)
For about two years I worked for James Fisher. They were very conservative in the way they went about my particular section. Eventually I and two others left to work independently and never looked back. Fisher just withered on the vine. It was sad. I have followed them in Barrow and that is why I own shares. Trust is still there that the re organisation has had results. I have never considered a takeover but who knows!!
Good points, thank you! Quick question if anyone is able to help? I've noticed that sometimes activity pops up on the share trades tab but for buy/sell column it says 'unknown'. Take for example the 20,000 shares at 11:45:34 today totalling 81.7k, a purchase or sale of this volume will have an impact on the share price depending on if it was a buy or sell. Any thoughts/insight would be appreciated.
spindoc
You pays your money and hopes you are correct. Sums it up well. On a price crash hold your nose and add or a spike close your eyes and trim. Works well.
This is a valuable company for someone to acquire and that underpins my confidence that some one will !
GL all DYOR
I retain a core holding and trade to reduce average and accumulate. This one is a star. When it move it really moves and as a contrarian trade it is fabulous.
Not a buy and hold stock and do nothing stock. This current range is £3 to £5.50 and a sniff of a bid interest (remember WG.) could see £8+ in a flash.
The company itself seems to be over the worst for now so expecting the positive momentum.
Since my 330p top up this has had great momentum.
This volume stuck out to me and since then only up. I feel a bid is near.
17 Feb 2023 341.00 347.10 319.42 342.50 342.50 315,882
This is a very hard call. I have some but would not recommend my advice. The company has undergone a real down turn but hopefully the re organsation and new leadership will slowly restore confidence. Shares tend to be held by sticky fingers. You pays your money and hopes you are correct..