James Fisher buoyed by Aberdeen deal
JAMES Fisher and Sons, the listed Cumbria-based marines services group, saw a major acquisition lift full-year returns.
In the year to the end of December revenues jumped 14% to £413.7m while underlying pre-tax profits increased 18% to £41.3m.
The overall figure, including revenue from disposals, was static at £46.2m.
The full-year numbers were helped by last year’s £20.8m acquisition of Divex an Aberdeen oil industry supplier which designs diving equipment used by the offshore oil industry and other sectors, including the military.
Barrow-based James Fisher began as a regional shipping firm in 1847 and now operates globally serving a range of sectors such as nuclear and oil and gas
Chief executive Nick Henry said: “The group made significant progress in 2013 from strong organic growth and a good contribution from the recently acquired Divex. Our niche businesses, which operate in demanding environments where their strong marine service and specialist engineering skills are valued and rewarded, have good growth prospects.
“James Fisher’s strong balance sheet will enable us to invest in further organic growth opportunities and to make appropriate bolt-on acquisitions. The group is currently trading as expected in 2014 and is well placed to provide further growth and value to our shareholders.”
The board is proposing a final dividend of 13.5p, up 15%.
