James Fisher exits FTSE 250 index

BARROW-based marine engineering services provider James Fisher & Sons has dropped out the FTSE 250 index.

The demotion follows its half-year results which reported a 1% dip in turnover to £213.1m and an 18% slump in profits to £20m.

The company’s disappointing performance in the offshore oil sector – caused by falling commodity prices – was mitigated by a 15% increase in underlying profits of the specialist technical, marine support and tankships divisions, but not enough to prevent it departure from the index.

After a meeting of the FTSE committee, James Fisher & Sons demotion from the FTSE 250 was confirmed, alongside Lonmin and Premier Farnell.

They were replaced by Circassia Pharameuticals, P2P Global Investments and Sophos Group.

In the FTSE 100, Weir Group is to be replaced by Berkeley Group. 

The changes take effect from Monday, September 21.

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