Interim Management Statement

RNS Number : 9782F

Fisher (James) & Sons plc

01 May 2014

 



1^st May 2014

James Fisher and Sons plc

Interim Management & AGM Statement

The Board of James Fisher and Sons plc (''James Fisher'') today issues its interim management statement for the period from 1 January 2014 prior to its Annual General meeting to be held today at 12.00pm.

James Fisher has commenced 2014 well and trading to date has been in line with management expectations.  Offshore Oil and Specialist Technical revenues are strongly ahead of last year in the first quarter with good demand for our Offshore services across international markets and in the North Sea and with our Specialist Technical businesses benefitting from their strong order pipeline.  Marine Support has had a slower start to the year with a number of projects being weighted to the second half.  Tankships continues to make progress due to a combination of contract wins and further action to tighten capacity.

The Group has completed two bolt-on acquisitions in the first quarter.  Subsea Vision (£2.5m) has broadened our marine services capability in the Remotely Operated Vehicles arena.  DCE (£3.7m) has added to our product offering in the Swimmer Delivery Vehicle segment of the defence market.

James Fisher's proven strategy of focusing on the fast growing marine services markets across the world should continue to produce further growth and value for our shareholders in 2014.

Contacts

James Fisher and Sons plc	Nick Henry	CEO	020 7614 9508
FTI Consulting	Richard Mountain Sophie McMillan		0203 727 1374

 

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