LONDON (Alliance News) - Organic growth from James Fisher & Sons PLC's four divisions in the first half of 2017 contributed to higher revenue and profit, with recovery in the oil and gas sector and expansion into new markets paving the way for further growth in the second half.
For the six months ended June, pretax profit rose slightly to GBP17.6 million from GBP17.4 million last year, while underlying pretax profit, which excludes other disclosed items, increased to GBP21.3 million from GBP19.9 million.
Revenue rose 13% to GBP235.8 million from GBP209.3 million last year. On a constant currency basis, this represented an 8% increase.
FTSE 250-listed James Fisher raised its interim dividend by 10% to 9.40 pence per share from 8.55p last year, which will be paid to shareholders on November 3.
The company said of its four divisions, three traded particularly well in the period, with the Marine Support and Tankships divisions generating profit at a similar level to last year, while profit for the Specialist Technical division was "significantly" ahead.
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