James Fisher & Sons saw a rise in profits and revenue, according to results for 2016 which were released this morning.

The Barrow-based company, which also has a plant in Egremont, saw a six per cent growth in revenue, rising from £437.9m to £466m.

The business’ profit before tax also rose by 11 per cent to £45.8m from £41.2m in 2015.

The firm’s marine support, specialist technical and tankships divisions all posted good improvements in results which more than absorbed continued weakness in the offshore oil industry.

Outside of the UK and Norway, James Fisher continues to largely operate in the growing markets of Asia Pacific, the Middle East, Africa and South America and aims to continue to invest in expanding its position in these new markets.

The firm remains confident that the process of leaving the EU will only have limited direct impact on the business.

Chief executive, Nick Henry, said: "Underlying profit before tax grew by 11 per cent to £45.8m (2015: £41.2m) reflecting the continued resilience of the James Fisher business model with its well-balanced spread of activities across the marine sector and international markets.

“This is supported by a robust balance sheet and consistently strong cash generation.

“Our marine support and specialist technical divisions have started 2017 with strong order books and a number of active prospects.

He added: “Trading volumes in tankships are stable and we are seeing some early signs of improved activity in offshore oil.

“We therefore have a positive view of the year ahead and are confident of the group's potential to provide further growth and value for our shareholders in the future."