Fisher (James) & Sons plc Trading Update (2806I)
November 23 2018 - 1:00AM
UK Regulatory
TIDMFSJ
RNS Number : 2806I
Fisher (James) & Sons plc
23 November 2018
23 November 2018
James Fisher and Sons plc
Trading Update
James Fisher and Sons plc (FSJ.L) ('James Fisher' or 'the
Group'), the UK's leading marine services company, publishes its
trading update for the ten month period ended 31 October 2018.
Revenue for the ten months ended 31 October was 14% ahead of the
comparable period last year. Our Marine Support division continues
to show good growth from its services to the Renewables sector and
from global ship to ship services.
We have now secured all three 5 year maintenance contracts
covering topside, subsea and high voltage services for the London
Array, 175 turbine, 630 megawatt, offshore wind farm.
Specialist Technical has now completed the sea trials for the
first submarine rescue vessel that was delivered to the Indian Navy
in March and the associated milestone payment is expected to be
received shortly. The second vessel is currently passing through
factory acceptance testing and is due to be shipped by the end of
November.
Our Offshore Oil division performed marginally better than
expectations in the period. The levels of vessel utilisation that
were achieved by our Tankships division in the first half continued
into the third quarter.
Overall James Fisher continues to make good progress and the
outlook for the year remains unchanged.
Contacts
James Fisher and Nick Henry CEO
Sons plc Stuart Kilpatrick Group Finance Director 020 7614 9508
FTI Consulting Richard Mountain 0203 727 1374
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END
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