Business
Half Year Results 2008
Half Year Results 2008.
About this update from James Fisher And Sons Plc
[{"type":"text","content":"\n RNS Number : 0742C Fisher (James) & Sons PLC 27 August 2008 \n \n\n\n\n27 August 2008 \n\nJames Fisher and Sons plc (James Fisher)\n\nHalf Year Results 2008\n\nJames Fisher, the UK marine services provider, announces results for the Half Year to 30 June 2008.\n\n\n\n\n\n\n\n\n\n\n\n% change\n\n\n H1 2008\n\n\nH1 2007\n\n\n\n\n\n\n\nGroup revenue\n\n\n+28.9%\n\n\n £114.1m\n\n\n£88.5m\n\n\n\n\n\n\n\nProfit from operations\n\n\n+19.2%\n\n\n£13.1m\n\n\n£10.9m\n\n\n\n\n\n\n\nProfit before tax\n\n\n+16.1%\n\n\n£11.0m\n\n\n£9.5m\n\n\n\n\n\n\n\nBasic earnings per share \n\n\n+9.9%\n\n\n17.72p\n\n\n16.13p\n\n\n\n\n\n\n\nInterim dividend per share\n\n\n+12.1%\n\n\n4.36p\n\n\n3.89p\n\n\n\n\n\nHighlights\n\n\nOffshore Oil - strong performance with 28% increase in operating profit, of which 17.5% was organic. \n\n\n\n\nSpecialist Technical - extremely encouraging first half with operating profit up 33%, of which 30% was organic. \n\n\n\n\nDefence - operating profit up 72% due to Korean and Singaporean submarine rescue contracts.\n\n\n\n\nMarine Oil - operational issues impacted half year performance, demand still good.\n\n\n\nCommenting on the results, Chairman, Tim Harris, said:\n\n'Strong organic growth from our marine support divisions of offshore, specialist technical and defence produced good growth in group revenue and profits, despite a disappointing start from the marine oil division.\n\n'James Fisher's consistently strong organic growth record confirms the benefit of our strategy of investing in niche service businesses in the offshore, shipping and ports related sectors which are among the fastest growing and most recession resistant.\n\n'Despite this economic climate, the Company remains well placed to continue further its proven track record of producing good growth and value for our shareholders.'\n\n\nFor further information:\n\n\n\n\n\nJames Fisher and Sons plc \n\n\nTim Harris\n\n\nChairman\n\n\n020 7614 9508\n\n\n\n\nwww.james-fisher.co.uk \n\n\nNick Henry\n\n\nChief Executive Officer\n\n\n\n\n\n\n\n\n\n\nMichael Shields\n\n\nGroup Finance Director\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nFinancial Dynamics\n\n\nRichard Mountain/Sophie Kernon\n\n\n020 7269 7121\n\n\n\n\n\n\n &...