Amec Foster (AMFW)

Amec Foster (AMFW)

AGM Reports

Amec Foster Wheeler (AMFW) AGM Report 2015

The Annual General Meeting of Amec Foster Wheeler took place yesterday at Glazier's Hall near London Bridge. This company was formed relatively recently from the merger of Amec and Foster Wheeler. It is a large engineering and project management business with revenues of £5.5bn and 40,000 employees. A major proportion of its revenue comes from oil/gas facilities projects and it has therefore been under pressure from the fall in oil prices. Prospective p/e for the 2015 year is only 11.4 at ...

AMEC (AMFW) AGM Report 2014

Introduction I attended AMEC’s AGM, held at 10:30 on 3rd April at the Lincoln Centre, Lincoln’s Inn Fields. I consider AMEC to be a GARP investment, with a strong track record, little debt (but that will change after the proposed acquisition of Foster Wheeler) and a 3.5% historic yield. Unadjusted fully-diluted historic P/E is a not cheap 20, but the adjusted figure is 14 – if you accept the adjustments. A figure that in my opinion gives a more accurate view is free cashflow yield, which stands at ...

AMEC (AMFW) AGM Report 2013

I attended AMEC’s at AGM on Thursday 4th April, at 10:30am, at the offices of Deutsche Bank on London Wall. For a FTSE100 company, attendance was quite low, with around 30 shareholders being present. I learnt afterwards from the CEO (Samir Brikho, SB) that he was pleased to see an improved attendance from last year and that he welcomed the questions that were asked (I bought my shares this year, so this was the first AMEC AGM I had attended). All directors were present. The meeting was divided ...