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James Fisher profit grows, says trading meets expectations
August 21, 2012 / 6:47 AM / 5 years ago

James Fisher profit grows, says trading meets expectations

Aug 21 (Reuters) - James Fisher and Sons Plc’s first-half profit rose 21 percent as it fulfilled a number of major contract deliveries, and the marine engineering services provider said trading for the second half was so far in line with its expectations.

However, the company, which provides ship-to-ship transfer services and as well as decommissioning operations for the nuclear industry, cautioned that the high rate of growth it recorded in the first half should not be extrapolated to the second half.

For the six months to June 30, James Fisher and Sons reported a pretax profit of 17.1 million pounds ($26.85 million)on an underlying basis, up from 14.1 million pounds a year earlier.

Revenue rose 27 percent to 188.3 million pounds with three of the company’s four divisions posting growth, prompting the it to raise its interim dividend by 10 percent.

Shares in the company - which also manufactures and rents equipment for the offshore oil and gas industry - closed at 645.5 pence on the London Stock Exchange on Monday. They have risen 27 percent so far this year.

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