Trading Update

RNS Number : 7537P

Fisher (James) & Sons plc

22 November 2016

 

22 November 2016

James Fisher and Sons plc

Trading Update

Current Trading and Outlook

James Fisher and Sons plc (FSJ.L) ('James Fisher' or 'the Group'), the UK's leading marine services company, today publishes its trading update for the quarter ended 30 September 2016

Reported revenue for the period was strongly ahead of the comparable period last year with organic growth supplemented by the benefit of two acquisitions and Sterling weakness.  Sales in three of our divisions, Marine Support, Specialist Technical and Tankships, were all ahead of last year.  Within Marine Support, ship to ship transfers continued to be strong.  Specialist Technical made good progress against its order book and is trading well despite delays in the award of new nuclear decommissioning work.  Offshore Oil revenue was 6% lower in the quarter but the division benefitted from a reduced cost base.

The resilience of James Fisher's marine service strategy, with its focus on specialist niches and on the faster growing regions of the World, is reflected in our recent financial performance.  The Board's outlook for the full year remains unchanged from the time of our half year results.

Capital Markets Day

The Group will today hold a Capital Markets Day in London for institutional investors and analysts.  Presentations will be given by members of James Fisher's senior management team, providing an update on strategy and insight into the Specialist Technical and Marine Support divisions.  No further detail on current trading will be provided at the event.  The presentation materials will be made available from 2.30pm this afternoon on the Group's website (www.james-fisher.com) to coincide with the start of the event.

Contacts

James Fisher and Sons plc	Nick Henry	CEO	020 7614 9508
FTI Consulting	Richard Mountain		020 3727 1374

 

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