James Fisher and Sons Plc (FSJ.L), a marine engineering services provider, on Tuesday reported wider loss in the first half of fiscal 2025, impacted from the exclusion of disposed non-core businesses and higher tax charge. While revenue declined 13 percent, the company reaffirmed its outlook for fiscal 2025.
The company posted loss of 2.4 million pounds or 4.8 pence per share in the first six months, more than loss of 1.0 million pounds or 1.7 pence per share in the corresponding period last year.
On an underlying basis, the company's profit was 0.4 million pounds or 0.8 pence per share in the half-year period, compared to profit of 3.2 million pounds or 6.3 pence per share in the year-ago period.
According to James Fisher and Sons, pre-tax profit for the period surged 600 percent to 1.4 million pounds from 0.2 million pounds in the same period last year. Underlying profit before tax rose 4.7 percent to 4.5 million pounds from 4.3 million pounds in the first half of fiscal 2024.
During the six-month period, revenues fell to 191.9 million pounds from 221.5 million pounds in the previous-year period, impacted by the businesses the company exited in 2024. EBITDA for the period also declined to 68.2 million pounds from 70.4 million pounds a year ago.
Looking ahead, Jean Vernet, Chief Executive Officer, said, "With performance weighted to the second half, trading is in line with management expectations and the outlook for full year remains unchanged."
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