Fisher (James) & Sons plc Trading Update & AGM Statement (1130E)
04 May 2017 - 4:00PM
UK Regulatory
TIDMFSJ
RNS Number : 1130E
Fisher (James) & Sons plc
04 May 2017
4 May 2017
James Fisher and Sons plc
Trading Update & AGM Statement
The Board of James Fisher & Sons plc ("James Fisher") issues
its Trading Update for the period from 1 January 2017 to date prior
to its Annual General Meeting to be held today at 11.00 am.
Trading is in line with management expectations with three
divisions, Marine Support, Specialist Technical and Tankships
continuing to trade well. Customer sentiment in the Offshore Oil
sector has improved but activity remained subdued in the
period.
For the year as a whole, our Marine Support businesses are well
placed, with growth in ship to ship operations, the renewables
sector and in our international subsea services. Specialist
Technical division continues to benefit from the strong performance
of our JFD subsidiary in the hyperbaric equipment and submarine
rescue sector which outweighs some slowing of orders in our Nuclear
business. Tankships is trading in line with the good results
achieved last year. In Offshore Oil, the level of enquiries has
improved and current prospects suggest that a slightly slower first
half will be followed by a stronger performance in the second half
ahead of the same period last year.
With the growth of our marine service activities in Marine
Support, an increased proportion of our revenues are earned in the
summer months. When combined with the expected pattern of trading
in Offshore Oil this year, this means that trading in the first
half is likely to be similar to last year with growth weighted to
the second half. For the year, the Group's outlook remains positive
and 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
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Richard
FTI Consulting Mountain 0203 727 1374
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This information is provided by RNS
The company news service from the London Stock Exchange
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