9th Sep 2025 11:09
(Alliance News) - James Fisher & Sons PLC on Tuesday hailed a "solid first half performance", as it reported weaker revenue but with growth in interim earnings.
The Barrow-in-Furness, England-based marine services company reported pretax profit of GBP1.4 million for the six months that ended June 30, multiplied from GBP200,000 a year earlier.
Revenue, however, fell 13% to GBP191.9 million from GBP221.5 million, as its Maritime Transport division recorded an 8.4% decline to GBP68.5 million, and its Energy division fell 1.8% to GBP85.8 million.
By contrast, revenue in the Defence division grew 3.0% to GBP37.6 million.
The improved earnings amid the weaker top line can be attributed to a mix of lower finance expenses and net unrealised foreign exchange gains.
Finance expenses fell 42% to GBP8.1 million from GBP14.0 million, with James Fisher & Sons reporting a net unrealised foreign exchange gain of GBP3.3 million, up from nothing a year earlier.
Shares in James Fisher & Sons were down 0.8% at 327.50 pence on Tuesday morning in London.
On the new financial year, the company said trading to the end of August has mirrored management's expectations, with the outlook for the full-year unchanged, "notwithstanding growing short-term macro-economic uncertainty in the energy market."
Chief Executive Jean Vernet said: "We have delivered a solid first half performance in 2025, with further structural improvements moving us closer to our financial targets and selective investment unlocking the next chapter of growth aligned to our strategic priorities.
"The second half of this year will see continued focus on our turnaround priorities, building on what we have achieved so far, while positioning the Group for growth...With performance weighted to the second half, trading is in line with management expectations and the outlook for full year remains unchanged."
By Christopher Ward, Alliance News reporter
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