**Summary**
James Fisher and Sons plc, a leading marine services company, released a full-year trading update for 2025 (FY25) on January 29, 2026, ahead of its official results announcement on March 12, 2026. The company reported strong performance, with underlying operating profit exceeding market expectations at approximately ยฃ28 million, driven by a 4% like-for-like revenue growth to ยฃ395 million and an improved margin of around 7%. Key highlights include
1. **Improved Trading Performance** Second-half trading strengthened, supported by favorable end markets, despite some softness in oil and gas.
2. **Strategic Initiatives** Focus on productivity, supply chain efficiency, and business mix optimization contributed to profit growth.
3. **Division Performance**
**Energy Division** Solid results in Energy Services and Renewables, with mixed performance in specific product lines.
**Defence Division** Enhanced performance with strategic contract wins, including a significant award for the Polish Navy.
**Maritime Transport** Strong results driven by high utilization in Tankships and increased seasonal activity.
4. **Financial Health** Net debt/EBITDA remained within the target range of 1.0-1.5x, supported by disciplined cash management.
5. **Outlook** The company remains confident in delivering further progress in 2026, with expectations of continued seasonal weighting toward the second half.
CEO Jean Vernet highlighted progress toward medium-term targets and long-term growth opportunities, emphasizing the companyโs streamlined portfolio, strengthened product base, and international expansion. Full-year results for FY25 will be announced on March 12, 2026.
Below is the HTML table code comparing the financials and debt year-on-year based on the provided text: < lang="en">
> ### Explanation:
1. **Revenue**: FY24 revenue is estimated by reversing the 4% like-for-like growth in FY25. 2. **Underlying Operating Profit**: FY24 figure is based on the consensus mean provided in the notes. 3. **Operating Margin**: Calculated as Operating Profit / Revenue. 4. **Net Debt / EBITDA**: Maintained within the target range for both years. The table includes footnotes for clarity and assumptions made due to the lack of explicit FY24 data in the provided text.