James Fisher and Sons Reports Improved First-Half Performance Amid Defense Growth
James Fisher and Sons reported improved first-half performance for fiscal year 2026, with revenue rising by 2.1% to nearly £196 million and underlying operating profit increasing by 27.9% to £14.2 million. The defense division was a key driver of growth, contributing significantly as it saw a 43% rise in revenue supported by submarine rescue contracts and military diving activities. Despite challenges in the energy sector—where revenue fell by 20.6% due to reduced spending on well testing and offshore wind projects—the company maintained an unchanged outlook for defense and maritime transport growth. The defense order book stood at £295 million, with additional framework awards of around £95 million expected over the next three years. The CEO noted that strong performance in defense offset energy market headwinds, while CFO Karen Hayzen-Smith highlighted operational efficiency improvements as a factor behind profit gains.
Topics: defense energy markets maritime transport