Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner.

Offshore wind helps blow profits higher at marine services firm James Fisher

© James FisherJames Fisher challenges
James Fisher and Sons has a number of businesses in the North Sea oil sector. Pictured is a submarine rescue vessel from James Fisher Defence

Offshore wind and oil and gas decommissioning projects boosted first half profits at James Fisher and Sons.

The marine services company announced on Tuesday pre-tax profits of £8.1 million for the six months to June 30, up by 14.1% from £7.1m a year earlier.

End markets are still impacted by Covid-19 but the second quarter delivered a “marked improvement over Q1, the firm said.

‘Bubble curtains’

Fisher also highlighted strengthening order books, particularly in decommissioning and offshore wind, following “high tender” contract wins during the first half.

New renewables projects for the group include work wind farm work at St Brieuc and Fecamp, off the French coast, and in the UK the Sofia development in the Dogger Bank.

The company said it had also seen increased usage of its “bubble curtains” technology, which uses compressed air to create a wall of bubbles around noisy subsea works, protecting local wildlife and reducing the environmental impact of such activity.

‘Growing momentum’ for decom work

Decommissioning activities supporting the safe and environmentally-friendly deconstruction of oil wells is also seeing “growing momentum in an area of growing global demand”, Fisher added.

First half revenue fell by 9.5% year-on-year, to £233.7m, with Fisher saying the Q1 performance was particularly affected by the return of the UK to a Covid-driven lockdown.

The group is expecting performance to improve during the second half of the year as end markets recover from the disruption caused by the effects of the global pandemic.

Chief executive Eoghan O’Lionaird said: “Looking beyond 2021, forward-looking order books in our long-cycle businesses are strengthening following high levels of tendering activity and contract wins year-to-date which gives the board confidence in the group’s future prospects.”

Cumbria-based Fisher is parent to a string of north-east firms. These include Oldmeldrum-headquartered RMSpumptools, Fisher Offshore and Scantech Offshore, Westhill-based JFD, and the National Hyperbaric Centre and R2S, both in Aberdeen.

Recommended for you

More from Energy Voice

Latest Posts