Marine specialists on the hunt for further acquisitions

A North West marine services business has announced an 11% increase in revenue in the third quarter this year.

The results are as expected, after James Fisher and Sons plc sold its 25% shareholding in Foreland Holdings Limited for an initial £11.4m in August.

The Group, based in Barrow-in-Furness in Cumbria, also acquired Osiris Marine Services Limited and it’s underwater counterpart, providers of diving and subsea services, for £3.25m.

James Fisher and Sons caters for numerous markets, including oil and gas, marine, nuclear, defence and renewable energy and operates in 13 countries worldwide, including in many developing economies.

Chairman Charles J Rice commented that the company will continue to take advantage of suitable acquisition opportunities as they arise.

He added: “Overall, James Fisher’s strategy of focusing on fast growing niche markets is confirmed by its trading performance and the Company remains well positioned to deliver further growth and value for shareholders.”