Business
Full Year Results 2010
Full Year Results 2010.
About this update from James Fisher And Sons Plc
[{"type":"text","content":"\n \n\n\n\n\n\nRNS Number : 9295C Fisher (James) & Sons PLC 15 March 2011 \n \n\n \n \n \n \n \n \n15 March 2011\n \nJames Fisher and Sons plc\nFull Year Results 2010\n \nJames Fisher and Sons plc (\"James Fisher\"), the leading marine service provider, announces its results for the full year to 31 December 2010.\n \n\n\n\n\n\n\n\n2010\n\n\n2009\n\n\nchange\n\n\n\n\nGroup revenue \n\n\n£268.3m\n\n\n£249.6m\n\n\n+ 8%\n\n\n\n\nUnderlying operating profit *\n\n\n£31.1m\n\n\n£27.9m\n\n\n+ 11%\n\n\n\n\nUnderlying profit before tax *\n\n\n£27.1m\n\n\n£24.8m\n\n\n+ 9%\n\n\n\n\nUnderlying diluted earnings per share *\n\n\n41.9p\n\n\n37.0p\n\n\n+ 13%\n\n\n\n\nFinal dividend per share\n\n\n9.7p\n\n\n8.8p\n\n\n+ 10%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nStatutory profit before tonnage and income tax\n\n\n£25.9m\n\n\n£24.7m\n\n\n\n\n\n\n\nStatutory diluted earnings per share\n\n\n39.7p\n\n\n37.0p\n\n\n\n\n\n\n\n \n* before costs of acquisitions and intangible amortisation\n \nHighlights\n \n· double digit growth in earnings\n· good cash conversion and financial gearing reduced to 85% (2009 : 93%)\n· four bolt-on acquisitions for total consideration of £20.9m \n· robust growth from Specialist Technical increasing profit to £17.6m\n· Offshore Oil seeing increased levels of activity in the UK and Norway\n· 42% profit growth in Defence division\n \nCommenting on the results, Executive Chairman, Tim Harris, said:\n \n\"2010 was an encouraging year in which the Group demonstrated good growth, a strong operating cash flow and reduced gearing despite challenging conditions. \n \nTrading to date for 2011 is in line with management expectations. James Fisher has a proven marine service strategy and track record for achieving organic growth, strong cash generation and successfully finding and integrating \"bolt-on\" acquisitions. It continues to be well placed to provide further growth and value for our shareholders.\"\n \n \nFor further information\n\n\n\n\nJames Fisher and Sons plc\n\n\nTim Harris\nNick Henry\nStuart Kilpatrick\n\n\nChairman\nChief Executive Officer\nGroup Finance Director\n\n\n020 7614 9508\n\n\n\n\nFinancial Dynamics\n\n\nRichard Mountain\nSophie Moa...