James Fisher's revenues declines, earnings forecast to be at low end of market expectations

Ongoing challenging conditions in the oil and gas markets saw revenue at marine engineering services company James Fisher & Sons decline in the four months to the end of October.

Revenue in the period declined 4% year-on-year, dragged lower by tough conditions in the group’s offshore oil arm, particularly in the company’s Norwegian business.

James Fisher said its other businesses performed well in the four months to 31 October but warned its earnings for the full year to end of December are forecast to be at the lower end of market expectations due to contract delays.

James Fisher shares were down 0.05% to 925.00p at 0912 GMT on Thursday.