This is an interesting bolt on acquisition in a new area for the Group but adjacent to other services and servicing similar customers with cross selling opportunities. This is another example of a distressed situation (SeaEnergy plc administration) throwing up opportunities for James Fisher. We make no change to numbers at this stage. We also note the c.10% share price fall in recent weeks; given the strength of contract momentum and solidity in core operations, we feel that there are strong investment attractions at the current price.
