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10 Mar 2022 11:58
IN BRIEF: James Fisher shares fall 20% as skips payout to tackle debt
James Fisher & Sons PLC - Barrow In Furness, Cumbria-based marine services - Withholds annual dividend after "disappointing year". Pretax loss narrows to GBP29.0 million in 2021 from GBP52.5 million in 2020, despite a 4.7% decline in revenue to GBP494.1 million from GBP518.2 million. However, underlying operating profit margin shrinks to 5.7% from 7.8%. "2021 was a challenging and disappointing year for the group," says Chief Executive Officer Eoghan O'Lionaird. "We experienced ongoing disruption from the global pandemic, our markets did not recover at expected rates, and we underestimated the headwinds faced by some of our businesses."
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