Trading Update and AGM Statement

RNS Number : 5622W

Fisher (James) & Sons plc

28 April 2016

 

28 April 2016

James Fisher and Sons plc

Trading Update & AGM Statement

The Board of James Fisher and Sons plc ("James Fisher") issues its Trading Update for the period from   1 January 2016 to date prior to its Annual General Meeting to be held today at 11am.

Trading to date has been in line with management's expectations with our Marine Support, Specialist Technical and Tankships divisions continuing to trade well, but with Offshore Oil still to see any improvement in the weak trading conditions encountered in the second half of last year.

Since the start of the year, the Group has been awarded a number of significant long-term contracts - the Galloper Wind Farm contract in February; the Indian Navy Submarine Rescue contract in March and the Winfrith Reactor Decommissioning contract earlier this week. These projects are important milestones in the Group's strategic development and they will begin to contribute significantly from the second half.

For the year as a whole, the Group's outlook is positive with contract led growth in the second half of the year more than compensating for a slightly lower performance in the first half compared to last year. With a strong financial position and robust business model, the Board believes that James Fisher continues to be well placed to provide further growth and value for its shareholders.

Contacts

James Fisher and Sons plc	Nick Henry	CEO	020 7614 9508
FTI Consulting	Richard Mountain Susanne Yule		0203 727 1374

 

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