James Fisher sinks despite solid revenue performance

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James Fisher sinks despite solid revenue performance
Master Investor Magazine

Master Investor Magazine 53

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FTSE 250 marine services provider James Fisher & Sons (LON:FSJ) has seen its share price sink by 4.47% to 2,020.02p (as 13:45 BST) after profits before tax for the six months ended 30th June dropped by 3%. Revenues for the period climbed by 10% as the company benefited from new acquisitions and strong performances by the Offshore Oil and Tankships divisions.

CEO Nick Henry commented: “The Group has made good strategic progress in the first half with the acquisition in Brazil and the purchase of two dive support vessels. We remain well positioned across all four of our divisions with significant growth opportunities ahead. As previously advised, the phasing of projects has made the year more weighted to the second half, which will also begin to benefit from the investment committed to in the first half. 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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