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James Fisher banks on strength at marine support

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Date: Thursday 01 May 2008

LONDON (ShareCast) - Marine services provider James Fisher still expects strong growth in the marine support divisions to compensate for the slow start to the year in marine oil.

It said the marine support divisions have started 2008 strongly and the offshore and specialist technical units are trading slightly ahead of plan.

Meanwhile, the defence division has made good progress on its Korean and Singaporean submarine rescue contracts which remain on schedule for delivery at the end of this year and in the first half of 2009.

But tanker business James Fisher Everard has made a slow start to the year, with its largest coastal tanker losing two months service due to engine and related gearbox problems

In March, the firm said good demand for the offshore oil industry helped lift underlying profits by more than third last year to £21.5m.

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