6th Sep 2024 18:49
James Fisher & Sons PLC - Barrow In Furness, Cumbria-based marine services company - Completes GBP12.1 million sale of maritime safety, monitoring and medical equipment distributor Martek Holdings Ltd to a fund managed by investment manager Foresight Group Holdings Ltd. Says sale consists of initial GBP10.6 million payment followed by two GBP750,000 payments to be made on the first and second anniversary of completion. Chief Executive Jean Vernet says the disposal "continues our strategy to simplify the business portfolio and ensure investment remains focused on our core customer markets, including innovative new product development." Proceeds to go towards strengthening the company balance sheet and goal of a 1 to 1.5 times net debt to earnings before interest, taxes, depreciation, and amortization ratio.
James Fisher current share price: 360.00 pence, closed up 1.1% in London on Friday
12-month change: up 2.3%
Foresight current share price: 489.00 pence, ended 1.0% lower on Friday
12-month change: up 4.0%
By Aidan Lane, Alliance News reporter
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