UK's James Fisher H1 revenue up 2.1% on defence product lines demand
UK's James Fisher H1 revenue up 2.1% on defence product lines demand
Overview
UK marine services firm's H1 revenue rose 2.1% yr/yr, driven by Defence and Maritime Transport
Underlying operating profit for H1 increased 27.9%, with margin up 140 bps
Energy division revenue fell 20.6% amid subdued demand and geopolitical uncertainty
Outlook
Company expects good momentum in Defence and Maritime Transport to continue through 2H 2026
Energy market activity anticipated to remain challenging through 2H 2026 due to geopolitical and macro-economic factors
Full-year outlook unchanged; board maintains overall expectations for 2026
Result Drivers
DEFENCE GROWTH - Strong demand across all Defence product lines, especially Tactical Delivery Vehicles and Submarine Platforms, drove revenue and profit growth
ENERGY DECLINE - Revenue and profit in Energy division fell due to subdued demand, geopolitical uncertainty, and project delays, partly offset by Renewables growth
MARITIME TRANSPORT STRENGTH - High fleet utilisation, favourable spot market rates, and strong ship-to-ship activity in Latin America supported Maritime Transport performance
Company press release: ID:nRSH7556Ta
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Revenue |
| GBP 195.9 mln |
|
H1 Adjusted Operating Profit |
| GBP 14.2 mln |
|
H1 Operating Profit |
| GBP 10.3 mln |
|
H1 Pretax Profit |
| GBP 2.4 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 6 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the marine freight & logistics peer group is "buy."
Wall Street's median 12-month price target for James Fisher and Sons PLC is GBp586.00, about 28.8% above its September 7 closing price of GBp455.00
The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 20 three months ago
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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)