# James Fisher & Sons plc Good strategic progress in first half

- Link: https://www.directorstalkinterviews.com/james-fisher-sons-plc-good-strategic-progress-in-first-half/412791287
- Published: 2019-08-28T07:38:42+01:00
- Author: Amilia Stone

**James Fisher and Sons plc** (LON:FSJ, the leading marine service provider, has
today announced its unaudited results for the six months ended 30 June 2019.

|   | **2019** | 2018 | **% change** | 
| Revenue | **£286.9m** | £260.5m | **+10%** | 
| Underlying operating profit * | **£24.5m** | £24.5m | – | 
| Statutory operating profit | **£24.5m** | £24.3m | **+1%** | 
| Underlying profit before tax * | **£20.9m** | £21.7m | **(4)%** | 
| Statutory profit before tax | **£20.9m** | £21.5m | **(3)%** | 
| Underlying diluted earnings per share * | **33.2p** | 34.5p | **(4)%** | 
| Statutory diluted earnings per share | **33.6p** | 34.5p | **(3)%** | 
| Interim dividend per share | **11.3p** | 10.3p | **+10%** |

_* excludes separately disclosed items (2019: £nil (2018: charge of £0.2m) see note
6)_

**Highlights:**

 * Revenue up 10% and by 4% at constant currency and excluding acquisitions

 * Cash conversion of 108% (2018: 120%)

 * Strong performance in Offshore Oil and Tankships

 * Investment of £52.2m in capital and new businesses

 * Interim dividend increased by 10%

> **Commenting on the results, James Fisher & Sons Chief Executive Officer, Nick
> Henry, said**:
> “The Group has made good strategic progress in the first half with the acquisition
> in Brazil and the purchase of two dive support vessels. We remain well positioned
> across all four of our divisions with significant growth opportunities ahead. 
> As previously advised, the phasing of projects has made the year more weighted
> to the second half, which will also begin to benefit from the investment committed
> to in the first half. The Group remains well placed to deliver an improved financial
> performance in the year and to continue to provide future value to its shareholders.”

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