James Fisher and Sons shares dip despite revenue and dividend hike

Marine engineering services company James Fisher and Sons plc (LON: FSJ) booked a mixed set of financial results during the first half of FY19, which saw their share price dip during trading on Wednesday.

The Group’s revenues jumped 10% on a year-on-year comparison for the same period, up to £286.90 million. The Company’s dividend per share paid during the period increased by the same margin, up 10% to 11.30p per share.

While James Fisher and Sons statutory operating profit rose fractionally by 1%, both its underlying profit before tax and underlying diluted EPS dipped by 4% on-year, to £20.9 million and 33.20p.

James Fisher and Sons comments

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.”

Investor notes

The Company’s shares have widened through the day, down 5.88% or 125.00p to 2,000.00p per share 28/08/19 14:23 BST. Analysts from Jefferies International reiterated their ‘Hold’ stance on James Fisher and Sons stock. The Group’s p/e ratio is 23.74 and their dividend yield is 1.55%.

Elsewhere in the oil and gas sector, there have been updates from; Eco Atlantic Oil and Gas Ltd (AIM: EOG), Valeura Energy Inc.(LON: VLU), President Energy PLC (LON: PPC), Mosman Oil and Gas Limited (AIM: MSMN) and Nostrum Oil and Gas PLC (LON: NOG).



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Senior Journalist at the UK Investor Magazine. Also a contributing writer at the Investment Observer, UK Property Journal and UK Startup Magazine. Postgraduate of King's College London with a specialisation in Business Ethics. Interested in Development Economics and David Hume.