- James Fisher and Sons said it expected profit to fall short of its expectations, but above that of last year amid improved market conditions in the oil and gas sector.

'Whilst modestly below the Board's expectations, profit before tax for the full year is expected to be ahead of last year (2018: £56.1m) and the board believes that our marine service strategy, focused on specialised niche markets, will continue to provide future growth and value to its shareholders,' James Fisher said.

The update came as the company said that trends seen in the first half in its offshore oil and tankships divisions continued into the period, with trading well ahead of the prior year comparative.

'This performance reflected improved market conditions in the oil & gas sector and the commencement of a new contract to support the Royal Navy's refueling requirements in tankships' it added.

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