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James Fisher & Sons – “the board remains confident in the group's strategy”. Er, why the “detailed” reviews then?!

A trading update from marine service provider James Fisher & Sons (FSJ) includes that “revenue in the quarter ended 30 September 2021 was 7.6% higher than Q3 2020 and 8.7% higher than Q2 of 2021… The board now anticipates Underlying Operating Profit for the full year, before separately disclosed items, to be in the range of £27m - £32m”. So why are the shares currently, at around 530p, more than 30% lower?...

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