Published at 07:37, Tuesday, 21 August 2012

Barrow shipping firm James Fisher has seen its underlying profits increase by a healthy 21 per cent.

Its interim profits published this morning also reveal that revenue rose 27 per cent for the six months to June 30th as it completed major projects and continued to grow in Asian and African markets.

Its offshore oil business also benefited from increased demand in regions such as Brazil and the Norwegian North Sea.

Commenting on the results Nick Henry, Chief Executive Officer, said: “James Fisher has made good progress during the period, maintaining the double-digit growth rates achieved in both revenue and profit in 2011.

“The high growth rate achieved in the first half reflect a number of major contract deliveries and should not therefore be extrapolated into the second half. Nevertheless, James Fisher remains on a healthy growth path which provides confidence for the future. The company is trading to management expectations to date in the second half and continues to be well placed to deliver further value to our shareholders.”

Published by http://www.in-cumbria.com