23rd Nov 2018 08:56
LONDON (Alliance News) - James Fisher & Sons PLC on Friday said that good growth in marine support division and marginally better than expected performance in the offshore oil division has resulted in a 14% year-on-year growth in revenue for the 10 months to October 31.
The engineering services company said it continues to make good progress overall and the outlook for the year remains unchanged.
The marine support division continued to show good growth from its services to the renewables sector and from ship-to-ship services, James Fisher said.
The specialist technical division completed sea trials for the first submarine rescue vessel delivered to the Indian Navy in March, and the associated milestone payment is expected to be received shortly. The second vessel is currently undergoing factory acceptance testing and is due to be shipped by the end of November.
James Fisher's offshore oil division performed marginally better and the levels of vessel utilisation achieved in the first half continued into the third quarter.
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