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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Fisher (james) & Sons Plc | LSE:FSJ | London | Ordinary Share | GB0003395000 | ORD 25P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 286.00 | 280.00 | 288.00 | 236 | 10:29:54 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Deep Sea Frn Trans-freight | 520.9M | -11.1M | -0.2205 | -12.97 | 143.99M |
TIDMFSJ
RNS Number : 6363H
Fisher (James) & Sons plc
26 March 2020
26 March 2020
James Fisher and Sons Plc (FSJ.L)
Covid-19 Update
James Fisher & Sons Plc ("James Fisher" or the "Group") is providing an update on management actions to offset the potential impact of Covid-19 on the Group. The health and safety of our people is of paramount importance and we have implemented a range of actions to protect our colleagues, customers and suppliers.
Whilst Group trading in the first two months of 2020 is ahead of prior year, the potential impact of Covid-19 is difficult to predict with any degree of certainty. Given this position, we have proactively taken steps to reduce costs, to optimise cash flow and to protect liquidity.
These actions include the deferral of discretionary capital expenditure; a hiring freeze; and, with effect from 1 April 2020, the salaries and fees of each member of the James Fisher Board will be reduced by 20%. Furthermore, the Board has decided that the final dividend for the year ended 31 December 2019 of 23.4 pence per share should be suspended until further notice. The Group will continue to monitor the developing situation and further actions will be taken as necessary.
The Group has a strong balance sheet and good liquidity. Excluding IFRS 16, net debt at 31 December 2019 was GBP203m, with c.GBP42m of headroom. In addition, the Group signed a new GBP30m revolving credit facility on 20 March 2020.
The Group will provide a further update at its AGM to be held on 30 April 2020.
For further information:
Chief Executive James Fisher and Eoghan O'Lionaird Officer Sons plc Stuart Kilpatrick Group Finance Director 020 7614 9508 Richard Mountain FTI Consulting Susanne Yule 0203 727 1340 ----------------------------------------------- --------------
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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(END) Dow Jones Newswires
March 26, 2020 03:00 ET (07:00 GMT)
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