3 March 2016
James Fisher and Sons plc
Corrections to FY Results published on 2 March 2016
Correction to Financial Review
Original text:
A significant proportion of revenue is invoiced in US Dollars and the Group benefits from the US Dollar weakening against UK Sterling and conversely a stronger US Dollar has an adverse impact. Forward currency contracts are entered into to mitigate the risk of an adverse impact on profits for a portion of expected US dollar net cash flows. The Group does not hedge translation exposure where the local business records its transaction in local currency. The net impact of changes in currency rates compared to 2014, after forward contract hedging, was to increase underlying operating profit by £3.2m.
Corrected text:
A significant proportion of revenue is invoiced in US Dollars and the Group benefits from the US Dollar strengthening against UK sterling and conversely a weaker US dollar has an adverse impact. Forward currency contracts are entered into to mitigate the risk of an adverse impact on profits for a portion of expected US dollar net cash flows. The Group does not hedge translation exposure where the local business records its transaction in local currency. The net impact of changes in currency rates compared to 2014, after forward contract hedging, was to increase underlying operating profit by £3.2m.
Correction to Earnings per share and dividends
Original text:
A final dividend of 16.0p per share (2014: 14.9p) will be paid, subject to approval at the Annual General Meeting, on 6 May 2015 to shareholders on the register on 8 April 2015.
Corrected text:
A final dividend of 16.0p per share (2014: 14.9p) will be paid, subject to approval at the Annual General Meeting, on 6 May 2016 to shareholders on the register on 8 April 2016.
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