Fisher (James) & Sons PLC
01 May 2008
1 May 2008
James Fisher and Sons plc
AGM / Interim Management Statement
The Group's marine support divisions have started 2008 strongly. The offshore,
shipping and port related services markets in which we operate continue to grow
well. Both the offshore and specialist technical divisions are trading slightly
ahead of plan and continue to produce strong growth. Good progress has also
been made by the defence division on its Korean and Singaporean submarine rescue
contracts which remain on schedule for delivery as planned at the end of this
year and in the first half of 2009.
James Fisher Everard has experienced a slow start to the year. The dry-dock
schedule is unusually heavy in the first half, primarily because of the need to
dry-dock three vessels to equip them for the new European Maritime Safety Agency
(EMSA) contract. Our largest coastal tanker, Pembroke Fisher, has also lost two
months service owing to engine and related gearbox problems, which are now
resolved with her back in service.
Overall our expectations for the year remain unchanged from the time of our full
year results announcement on 18 March 2008, with the strong growth in the marine
support divisions compensating for the slow start in marine oil. James Fisher
remains well placed to continue to produce growth and increasing returns to our
shareholders.
Contact
James Fisher and Sons plc Tim Harris Chairman 020 7614 9508
Michael Shields Group Financial
Director
Financial Dynamics Richard Mountain - 020 7269 7186
This information is provided by RNS
The company news service from the London Stock Exchange