Fisher (James) & Sons plc Trading Update (7537P)
November 22 2016 - 3:30AM
UK Regulatory
TIDMFSJ
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
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FTI Consulting Richard Mountain 020 3727 1374
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This information is provided by RNS
The company news service from the London Stock Exchange
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