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James Fisher and Sons Plc - Final Results

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James Fisher and Sons plc

Preliminary announcement of final results for the year ended 31 December 2019

James Fisher and Sons plc (FSJ.L) ('James Fisher'), the leading marine service provider, announces its final results for the year ended 31 December 2019.

 

2019

2018

% change

Revenue

£617.1m

£561.5m

+10%

Underlying operating profit *

£66.3m

£62.1m

+7%

Underlying profit before tax *

£58.5m

£56.1m

+4%

Underlying diluted earnings per share *

92.8p

89.5p

+4%

Total dividend per share

34.7p

31.6p

+10%

 

 

 

 

Statutory operating profit

£55.6m

£61.4m

 

Statutory profit before tax

£47.8m

£55.4m

 

Statutory diluted earnings per share

72.7p

88.9p

 


* excludes separately disclosed items 2019: £10.7m (2018: £0.7m) (note 4)

Highlights:

  • Reported revenue up 10% and up 6% on an organic basis
  • Underlying operating profit up 7%, driven by strong Offshore Oil performance
  • Investment of £105m in capital and acquisitions
  • Total dividend increased by 10%
  • Eoghan O'Lionaird appointed as Chief Executive Officer on 1 October 2019

Commenting on the results, Chief Executive Officer, Eoghan O'Lionaird, said:

"Following a strong second half, the Group delivered a 7% increase in underlying operating profit in the full year. A strong recovery in our Offshore Oil division, further progress in Tankships and a broadly similar year-on-year result in Specialist Technical, more than offset a weaker performance in Marine Support. With the offshore renewable energy sector continuing to grow robustly and the oil and gas market for our niche services recovering, the leading position held by a number of our businesses across a broad spread of services in diverse geographical locations underpins the Board's confidence in the Group's ability to provide continued growth in shareholder value."