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FIH Group PLC - essential services provider in UK and Falkland Islands - Says trading activity is heading back to pre-pandemic levels. Says The Falkland Islands Co, its division least hurt by the pandemic, delivered results that were broadly in line with the year before. Says that performance overall improved as restrictions eased. Expects to deliver an underlying pretax profit significantly exceeding market expectations for the year ended 31 March. It delivered an underlying pretax profit of £3.7 million in financial 2021.
Notes that its balance sheet remains ‘strong’ with a cash balance of roughly £9.5 million as at March 31. This is broadly in line with the year before.
‘We believe the outlook for the group remains positive. Further opportunities to work with the Falkland Islands government and the UK Ministry of Defence are being explored by The Falkland Islands Company and a return of tourists in the austral spring would further boost trading. In parallel, costs are being carefully managed in Momart and Portsmouth Harbour Ferry in line with their ongoing trading recovery,’ Chief Executive Stuart Munro says.
Current stock price: 235.00 pence
12-month change: down 2.1
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