James Fisher foresees 'further growth' after in-line Q1

1st May 2014 08:23

James Fisher and Sons, which provides marine services to a range of industries, gave an upbeat outlook for 2014, saying it expects 'further growth' after an in-line start to the year.The company, which serves a range of markets including oil and gas, defence and renewable energy, said it "commenced 2014 well" and trading since January 1st has been consistent with management expectations.Offshore Oil and Specialist Technical revenues were "strongly ahead" of the first quarter of last year. The company noted good demand for its Offshore services across international markets and in the North Sea, while Specialist Technical business benefited from a strong order pipeline.Marine Support, however, had a slower start to the year with a number of projects being weighted to the second half. Meanwhile, Tankships continues to make progress due to a combination of contract wins and further action to tighten capacity."James Fisher's proven strategy of focusing on the fast growing marine services markets across the world should continue to produce further growth and value for our shareholders in 2014," the company said.The stock was up 2.4% at 1,322p by 08:27 on Thursday.BC