Half Year 2024 James Fisher and Sons PLC Earnings Call Transcript
Good morning, everyone. Thank you for joining our 2024 interim results earnings call. I am pleased to be joined by our Chief Financial Officer, Karen Hayzen-Smith and together, we will provide an update on our business turnaround and the program (technical difficulty) to reduce our net debt in support of a stronger, more sustainable business.
I will start by walking through our 1H '24 Business Highlights aligned to our transformation strategy. Karen will then provide an overview of our financial results at Group and divisional levels, which are an outcome of the work we are doing on our turnaround. I will then provide a strategic update and a market outlook.
So let's start with the highlights from our first half of the year. We are now about halfway through our business turnaround, and we are making progress through focus and simplification. Our first half performance was in line with expectations, while revenue was down 12.1% year on year. Underlying operating profit was up by 20%, mainly due to the
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