Fisher (James) & Sons plc Trading Update & AGM Statement (9460M)
03 May 2018 - 4:00PM
UK Regulatory
TIDMFSJ
RNS Number : 9460M
Fisher (James) & Sons plc
03 May 2018
3 May 2018
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 2018 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 and with Offshore Oil showing signs of
recovery. The first four months of the year have seen a significant
number of contract wins for the marine services and offshore
renewables activities in the Marine Support division. Our JFD
subsidiary in Specialist Technical delivered the first of two
rescue submarines and associated equipment to the Indian Navy on
time and have received the major milestone payment of GBP24.5m
linked to the delivery. New contracts for JFD's swimmer delivery
vehicles have firmed up this business' medium term outlook. In
Offshore Oil, orders received for our maintenance and repair
services have increased from April, while our downhole connectors
business has shown good growth since the start of the year.
Looking ahead, all four of our divisions appear well set with
Marine Support and Offshore Oil leading the way. The Board
therefore believes that the Group's outlook for the year is
positive and that James Fisher continues to be well placed to
provide further growth and value for shareholders.
As previously announced, at the conclusion of the AGM, Charles
Rice will retire as Chairman and be succeeded by Malcolm Paul.
Contacts
James Fisher and Sons
plc Nick Henry CEO 020 7614 9508
FTI Consulting Richard 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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