Sparks commentary

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Sparks

James Fisher (LSE: FSJ) – FY24 trading update implies progress towards targets in FY25
Published by Andy Murphy

James Fisher is starting to see the benefits of its transformation programme coming through. In H224, trading across the business was solid, supported by structural growth in end markets. FY24 underlying operating profit is expected to be c £29m, ahead of market expectations, and net debt is expected to be below £60m and within its target gearing range of 1.0–1.5x EBITDA. In FY25, markets are expected to remain supportive and trading so far has been in line with expectations, implying that the company hopes to make further progress towards its medium-term margin target of 10%.

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