Marine services firm James Fisher has announced its financial results for the first half of 2020, revealing falls in revenue and profit amid the Covid-19 pandemic.
While James Fisher posted a £30m reduction in total debt, this figure is a silver lining compared to many areas where the firm struggled financially. The company’s total revenue fell from £286.9m in the first half of 2019 to £258.1m in the first six months of this year, a fall of 10%. More concerning will be the firm’s pre-tax profits, which fell 59% over the period, from £20.9m to £7.1m, as is the fact that there is no end in sight to the Covid-19 pandemic, which CEO Eoghan O’Lionaird claimed was responsible for the company’s latest struggles.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Read more about he impacts of the Covid-19 pandemic on the company here.
