(Alliance News) - James Fisher & Sons PLC on Thursday reported slight growth in revenue in the first quarter of 2022, despite the continued impact of the Covid-19 pandemic.
The Marine services provider said its outlook for the full year is unchanged.
Ahead of its annual general meeting, James Fisher said revenue was GBP109.9 million in the first three months of the year, essentially flat from GBP109.3 million a year before.
"The Offshore Oil and Tankships divisions delivered good growth against a comparator period adversely impacted by the pandemic," the Cumbria, England-based company said.
Specialist Technical revenues were lower due to a number of projects nearing completion.
However, Marine Support revenues were at a similar level to the previous year.
Last month, the company withheld its annual dividend after a disappointing year. Pretax loss narrowed 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.
James Fisher shares were down 0.3% at 387.50 pence each on Thursday afternoon in London.
By Xindi Wei; xindiwei@alliancenews.com
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James Fisher and Sons (FSJ)