James Fisher specialist technical arm lifts profits

25th Aug 2009 07:42

James Fisher, the leading UK marine services, said strong organic growth overseas led by the Specialist Technical division more than offset the recessionary issues in the UK market.Group revenue from operations rose by 13.9% to £130m during the first half of 2009 and pre tax profit was £13.0m against £11m last year.Specialist Technical operating profit almost doubled to £7.9m from £4.1m before and margin improved to 15.9%.Offshore Oil was flat at £5.8m, defence fell to £1.9m from £2.6m and Marine Oil slumped to £0.2m from £2.7m. "Overall, James Fisher remains well placed in the current economic circumstances to continue to produce good growth and value for our shareholders," said the group.Interim dividend has been hiked 10.1% to 4.80p.