22nd Nov 2016 08:53
LONDON (Alliance News) - Marine services firm James Fisher & Sons PLC on Tuesday said it remains on track to meet its expectations for 2016 and said it has won a contract with a Chinese salvage diving outfit.
James Fisher said its revenue for the third quarter to the end of September grew year-on-year, with solid organic growth complemented by acquisition contributions and translation benefits into the weak pound.
Sales in the company's Marine Support, Specialist Technical and Tankships divisions were all higher year-on-year. Marine Support was underpinned by good ship-to-ship transfer work, Specialist Technical performed well despite delays to some nuclear decommissioning work, James Fisher said, though offshore oil sales were lower amid ongoing softness in that market.
The company said it remains on track to meet its expectations for 2016.
Separately, James Fisher said it has won a GBP35.0 million contract from Shanghai Salvage, a Chinese government-owned salvage company, to supply a 24-man saturation diving system.
The contract will cover the design and build of two saturation dive systems for delivery in 2019, including diving bell, hyperbaric lifeboat, gas management and life support equipment.
James Fisher shares were up 3.1% to 1,604.00 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
James Fisher and Sons