Business
Preliminary results for the year ended 31 Dec 2023
Preliminary results for the year ended 31 Dec 2023.
About this update from James Fisher And Sons Plc
[{"type":"text","content":"\n\n\nJames Fisher and Sons plc\nPreliminary results for the year ended 31 December 2023\n16 April 2024\n \nJames Fisher and Sons plc (FSJ.L) ('James Fisher', 'the Group'), the leading marine service provider, announces its results for the year ended 31 December 2023.\n \nContinued progress on deleveraging and turnaround plans\n• Underlying results ahead of last year with underlying profit growth across all three Divisions\n• Transformation programme driven by the three themes of 'focus, simplify and deliver' making good early progress\n• New Executive Committee embedded, driving accountability for financial and operational performance\n• Made good progress on our 2023 priorities which focus on improving safety, project management, employee engagement and financial performance\n• Steps taken to strengthen the Group's financial position with the agreed sale of RMSpumptools for £90m\n \n\n\n\n\nContinuing operations\n\n\nUnderlying results1\n\n\nReported results\n\n\n\n\n\n\n\nYear ended 31 December\n\n\nYear ended 31 December\n\n\n\n\n\n\n\n2023\n\n\n2022\n\n\n \nChange\n\n\n2023\n\n\n2022\n\n\n Change\n\n\n\n\nRevenue (£m)\n\n\n496.2\n\n\n478.1\n\n\n3.8%\n\n\n496.2\n\n\n478.1\n\n\n3.8%\n\n\n\n\nOperating profit/(loss) (£m)\n\n\n29.6\n\n\n26.4\n\n\n12.1%\n\n\n(18.6)\n\n\n24.7\n\n\nn/m\n\n\n\n\nProfit/(loss) before tax (£m)\n\n\n8.3\n\n\n16.2\n\n\n(48.8)%\n\n\n(39.9)\n\n\n14.5\n\n\nn/m\n\n\n\n\nProfit/(loss) for the year (£m)\n\n\n2.3\n\n\n11.5\n\n\n(80.0)%\n\n\n(50.9)\n\n\n9.0\n\n\nn/m\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nOperating margin\n\n\n6.0%\n\n\n5.5%\n\n\n50 bps\n\n\n(3.7%)\n\n\n5.2%\n\n\n(890) bps\n\n\n\n\nReturn on capital employed\n\n\n6.6%\n\n\n5.3%\n\n\n130 bps\n\n\n\n\n\n\n\n\n\n\n\n\n\nNet debt - covenant basis\n\n\n149.8\n\n\n142.1\n\n\n5.4%\n\n\n\n\n\n\n\n\n\n\n\n\n\nEarnings/(loss) per share\n\n\n11.4\n\n\n22.3\n\n\n(48.9)%\n\n\n(101.2)\n\n\n17.4\n\n\nn/m\n\n\n\n\n \nFinancial highlights\n• Revenue up 3.8% to £496.2m driven by 9.9% revenue growth in the Energy Division\n• Underlying operating profit from continuing operations up 12.1% with growth in all three Divisions\n• 50 b...