Interim Management Statement

RNS Number : 9590F

Fisher (James) & Sons PLC

05 May 2011

 



5 May 2011

James Fisher and Sons plc

Interim Management and AGM Statement

Trading for the Group in the first months of 2011 has been to management expectations and in pattern similar to 2010, with good growth in overseas markets but flat in the UK. 

Our Specialist Technical and Offshore divisions continue to benefit from their focus on developing markets, particularly the Asia Pacific region.  The North Sea markets in both Norway and Scotland are improving, although the main benefit will probably be in the second half.  Our Submarine Rescue activities continue to do well with a strong order book.  James Fisher Everard, our coastal tanking business, continues to be impacted by the lack of economic growth in the UK and particularly the Republic of Ireland which historically has accounted for up to thirty per cent of our volumes.  The progress noted in 2010 has marked time so far this year and our policy remains to reduce our fleet size so that it matches our contract cover.

James Fisher remains well placed with a proven strategy and track record to produce good growth and value for our shareholders.

Contacts

James Fisher and Sons plc	Tim Harris	Chairman	020 7614 9508
Financial Dynamics	Richard Mountain		020 7269 7186

 

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