Half Year Results 

James Fisher moves to shore-up liquidity

James Fisher moves to shore-up liquidity

With a combination of falling energy prices and subsea work deferrals it was never likely to be a positive out-turn for James Fisher (FSJ). The marine services group, which owns several businesses in north-east Scotland, saw work volumes decline due to delays to both hydrocarbon and renewables projects. Given the vagaries of timing linked to project contracts, it is difficult to gauge whether cash-flows will hold up through the second half of 2020, even though remedial actions dramatically improved the group’s working capital position during the period.

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