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FIH Group PLC on Friday said it is equipped to face the ‘significant challenges ahead’, as it posted weaker full-year earnings and proposed a flat dividend. FIH operates businesses such as construction, ferries and art storage in the Falkland Islands and UK. FIH reported a swing to a pretax loss of £6.6 million in the financial year that ended March 31, from £2.8 million in profit a year earlier. Driving the weaker earnings was a 22% reduction its top line to £40.9 million from £52.5 million, as it said work during the period was ‘severely disrupted’ at Falkland Building Services, the construction segment of the Falkland Islands Company. FIH noted that Falkland Building Services, which was undertaking a contract to build 70 houses for the Falkland Island government, was disrupted by management changes, adverse weather conditions as well as a lack of power. Chief Executive Stuart Munro noted that it had been ‘a challenging year’ for the firm, notably with the Falklands Islands Company. He added that challenges present in the first half of the financial year persisted through the second, adversely affecting trading, ‘albeit to a lesser extent.’ FIH noted that improvements, seen in the business, were offset by this segmental weakness. Falkland Islands Company revenue fell 41% to £17.0 million from £29.0 million. By contrast, Momart revenue edged up 1.6% to £19.6 million from £19.3 million, and Portsmouth Harbour Ferry revenue improved 2.4% to £4.3 million from £4.2 million. FIH proposed a final dividend of 5.5 pence, flat with the previous year, bringing its total dividend to 6.75p, also flat. Looking ahead, Chair Nick Henry noted the board’s focus on strengthening FIH’s business foundations, coupled with the pursuit of targeted strategic initiatives to enhance sustainable growth and value creation. ‘Whilst there are significant challenges ahead, the group now has the management teams in place to address them in all businesses,’ added CEO Munro. Shares in FIH fell 4.2% to 185.00 pence on Friday afternoon in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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