James Fisher increases its 2014 interim dividend by 10%

DividendMax Ltd.

James Fisher increases its 2014 interim dividend by 10%


Underlying profit before taxation up 13%;

Underlying diluted earnings per share rose 14%;

Marine Services divisional revenue increased by 12%;

Increased Specialist Technical order book, robust performance at Divex;

Offshore Oil revenue up 20%, led by growth in Latin America, West Africa and Asia Pacific;

Three bolt-on acquisitions completed for £14m;

Interim dividend raised by 10%.

Announced today:

Divex wins third major saturation diving system order since joining the Group.

Commenting on the results, Chief Executive Officer Nick Henry said:

"James Fisher continued to trade well in the first half of 2014 despite an adverse currency backdrop. These results reflect the growing success of the Group in winning significant new contract business both at home and overseas. Offshore Oil benefitted from the delivery of two major equipment sales which, together with a strong underlying performance, led to a profit increase of over 30%. Specialist Technical produced an excellent result, up 50% after adjustment for our Foreland associate. The Group is well placed to deliver further value to shareholders and to date is trading to management expectations."

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