Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Offshore wind fans strong results for James Fisher in H1

Offshore wind fans strong results for James Fisher in H1
UK-based marine services provider James Fisher & Sons reported H1 revenue up 13% at £235.8m with underlying operating profit 7% higher at £21.3m, causing it to raise interim dividend by 10% to 9.4p per share.

Strong growth came in the offshore renewables sector, where James Fisher strengthened its product offering with the acquisition of wind turbine blade repair and reconditioning specialist Rotos 360 in March.

Specialist Technical businesses also saw higher volumes of work in Asia Pacific and the opening of an important new market in Brazil for ship-to-ship oil transfer services.

“James Fisher and Sons' diversification strategy is paying dividends, literally,” commented Fiona Cincotta, market analyst from City Index. “Europe's booming offshore wind energy sector has helped fan impressive revenue growth…

“With signs emerging of a recovery in the oil and gas sector, a stronger second half looks very achievable, solidifying the company's status as a notable turnaround success story following the oil-market collapse in 2014.”