Profits surge 21% at James Fisher

PROFITS have surged 21% to £17.1m at Cumbrian marine services and nuclear engineering company James Fisher.

The Barrow-based company said its success in a number of international markets and sectors had underpinned its strong performance with “robust growth” in the Specialist Technical division.

It also saw growth in Asia and Africa, and increased demand in Offshore Oil in regions such as Brazil and the Norwegian North Sea.

In the six months to the end of June, revenues rose 27% to £188.3m.
 
Chief executive Nick Henry said: “James Fisher has made good progress during the period, maintaining the double-digit growth rates achieved in both revenue and profit in 2011.

“The high growth rate achieved in the first half reflect a number of major contract deliveries and should not therefore be extrapolated into the second half.

“Nevertheless, James Fisher remains on a healthy growth path which provides confidence for the future. The company is trading to management expectations to date in the second half and continues to be well placed to deliver further value to our shareholders.”