James Fisher and Sons plc, a leading marine service provider, has released its half-year results for the six months ended June 30, 2024. The company reports continued progress on its turn-around strategy and financial strengthening, with underlying performance in line with expectations. The sale of non-core businesses and assets has resulted in significant value realization, with cash proceeds of approximately £100 million expected in 2024. The Group refinancing is expected to be completed soon, on more favorable terms. The company has targeted investments in high-value growth areas across divisions and strengthened its expertise, with a continued focus on cash management, resource pooling, and self-help measures. Positive market fundamentals support medium-term growth opportunities across all divisions. The outlook for the full year remains in line with market expectations.
| Year | Revenue (£m) | Operating profit (£m) | Profit/(loss) before tax (£m) | Profit/(loss) for the period (£m) | Net debt - covenant basis |
|---|---|---|---|---|---|
| 2024 | 221.5 | 16.8 | 4.3 | 3.0 | 144.8 |
| 2023 | 252.0 | 14.0 | 6.4 | (1.7) | 154.5 |
| 2022 | 496.2 | 3.2 | (4.4) | (9.6) | 149.8 |