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 ...
I attended AMEC’s AGM, held at 10:30 on 3rd April at the Lincoln Centre, Lincoln’s Inn
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 ...
I attended AMEC’s at AGM on Thursday 4th April, at 10:30am, at the offices of Deutsche Bank on London
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 ...