Offshore Oil revenue up by 19%, profit up by 15% due to strong market conditions in Norway and developing markets;
Specialist Technical profits increased by 55% following successful Divex acquisition;
Double digit underlying growth at Marine Support;
Exceptional profit of £6.8m on sale of Foreland;
Strong cash generation with gearing reduced to 30% (2012: 39%);
Final dividend raised by 15% to 13.54p per share (2012: 11.83p) making 20.0p for the year (2012: 17.7p).
Commenting on the results, Chief Executive Officer Nick Henry said:
"The Group made significant progress in 2013 from strong organic growth and a good contribution from the recently acquired Divex. Our niche businesses, which operate in demanding environments where their strong marine service and specialist engineering skills are valued and rewarded, have good growth prospects. James Fisher's strong balance sheet will enable us to invest in further organic growth opportunities and to make appropriate bolt-on acquisitions. The Group is currently trading as expected in 2014 and is well placed to provide further growth and value to our shareholders."
