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James Fisher - Results ahead of expectations

May 2008

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Marine support services firm James Fisher has announced final results ahead of expectations. For the year to 31 December group turnover increased 54% to Â£182m helped by a first-time contribution from F. T. Everard. That led to a 21% rise in pretax profit to Â£19.2m, while eps increased 16% to 32.6p. The largest division, marine oil services, which operates a fleet of tankships for petroleum distribution, enjoyed a 65% increase in sales and 49% rise in operating profit helped by last December's acquisition of rival Everard. Operating margins were 12.4% and Fisher is expected to increase these towards its divisional target of 15% in due course.Meanwhile, offshore oil services, which customises and rents out specialist oil se ...

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