Barrow-based James Fisher and Sons PLC has announced an increase in pre-tax profits with all three divisions within the company enjoying a buoyant trading year.
The marine services company says its’ 2025 Full Year Results mark a turning point and that efforts to ‘focus, simplify and deliver have laid the groundwork for sustainable growth.’
“Over the past three years, we have strengthened the group, creating a more resilient business and a coherent platform that can unlock strategic potential,” chief executive Jean Vernet said.
“We have simplified the company around three customer-led verticals, championed management accountability and discipline, and created a One James Fisher (OJF) culture across the company.”
In 2025, revenues adjusted for disposals and closures increased 4% to £377.2m with maritime transport accounting for 39% of income.
All three divisions – defence, energy and maritime transport – showed improved margins.
Defence revenues grew 11% to £88.8m and operating margins jumped from 2.4% to 6.2%.
Predominately driven by stronger performance in Special Forces (Tactical Diving Vehicles) the company’s Submarine Platforms and Defence Diving along with Commercial Diving and Submarine Escape and Rescue also contributed. The division has an order book worth £317m and says geopolitical tensions resulted in increased spending.
The company reports solid operating performance across energy services and renewables despite what it describes as a softer oil and gas market.
Maritime transport showed an increase in total operating profit from £15.1m to £20.8m.
The company is currently building four new tankers which will replace existing vessels over the next two years.
