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The Markets
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The Markets
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Manufacturing & engineering

James Fisher and Sons interim results highlight “good strategic progress”

The marine engineer expects its full-year financials will be ‘more weighted’ to the second half.

James Fisher and Sons PLC (LON:FSJ) highlighted “good strategic progress” as its interim results revealed a 10% increase in revenue during the first half.

It noted, however, that 2019 will be ‘more weighted’ to the last six months of the year.

First-half revenue rose to £286.9mln, up from £260.5mln, while statutory profit before tax was stated at £20.9mln which is down 3% from the 2018 comparative figure of £21.7mln.

The company announced an interim dividend of 11.3p per share.

"The group has made good strategic progress in the first half with the acquisition in Brazil and the purchase of two dive support vessels,” said chief executive Nick Henry.

“We remain well-positioned across all four of our divisions with significant growth opportunities ahead.

He added: “The group remains well placed to deliver an improved financial performance in the year and to continue to provide future value to its shareholders."

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