FIH Group (FIH)

Sector:

Support

 215.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 274.00
  • 52 Week Low: 205.00
  • Currency: UK Pounds
  • Shares Issued: 12.52m
  • Volume: 810
  • Market Cap: £26.92m

FIH trading gradually returning to pre-Covid levels

By Josh White

Date: Tuesday 10 May 2022

LONDON (ShareCast) - (Sharecast News) - Falkland Islands and Britain-focussed specialist services provider FIH said in an update on Tuesday that trading activity was "heading back" to pre-pandemic levels, with its first-half progress continuing in the historically-stronger second half of the year.
The AIM-traded firm said that as a result, it expected to deliver an underlying pre-tax profit for the 12 months ended 31 March that would "significantly exceed" market expectations.

It said its Falkland Islands Company (FIC) division, which was least affected by the pandemic, delivered overall results that were broadly consistent with the prior year.

The previous year's ban on tourists visiting the islands continued, although the restrictions were lifted on 4 May, which would facilitate their return in the southern hemisphere's tourist season.

Trading at Momart, meanwhile, continued to improve, although activity was not yet fully back to pre-Covid-19 levels.

FIH said "particularly strong" results were delivered serving commercial clients in the autumn, due mainly to the return of Art Basel and Frieze London art fairs, and in March, which was traditionally Momart's peak trading period, from museum activity.

Elsewhere, passenger numbers on the Portsmouth Harbour Ferry were at around 80% of pre-pandemic levels over the autumn, but dipped in December following government guidance to work from home amid the emergence of the Omicron variant of Covid-19.

The company said recovery resumed following the lifting of that guidance at the end of January, and volumes were at about 76% of pre-pandemic levels for the month ended 31 March.

FIH said its cash position remained strong, with a cash balance at year-end of about £9.5m - £1.5m ahead of the half-year, and "broadly in line" with the balance at the end of the 2021 financial year after adjusting for the repayment of a £5m CBILS loan in June.

Bank loans totalled £14.2m, narrowing from £14.6m on 30 September, and included a £12.7m long-term mortgage on a freehold property at Leyton purchased in December 2018, for £19.6m.

"We believe the outlook for the group remains positive," said chief executive officer Stuart Munro.

"Further opportunities to work with the Falkland Islands Government and the UK Ministry of Defence are being explored by FIC 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 Company in line with their ongoing trading recovery."

At 1309 BST, shares in FIH Group were up 14.89% at 270p.

Reporting by Josh White at Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

FIH Group Market Data

Currency UK Pounds
Share Price 215.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 274.00
52 Week Low 205.00
Volume 810
Shares Issued 12.52m
Market Cap £26.92m

FIH Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
27.63% above the market average27.63% above the market average27.63% above the market average27.63% above the market average27.63% above the market average
44.44% above the sector average44.44% above the sector average44.44% above the sector average44.44% above the sector average44.44% above the sector average
Price Trend
26.46% below the market average26.46% below the market average26.46% below the market average26.46% below the market average26.46% below the market average
32.67% below the sector average32.67% below the sector average32.67% below the sector average32.67% below the sector average32.67% below the sector average
Income
36.35% above the market average36.35% above the market average36.35% above the market average36.35% above the market average36.35% above the market average
25.00% above the sector average25.00% above the sector average25.00% above the sector average25.00% above the sector average25.00% above the sector average
Growth
99.29% above the market average99.29% above the market average99.29% above the market average99.29% above the market average99.29% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average

FIH Group Dividends

  Latest Previous
  Interim Final
Ex-Div 30-Nov-23 28-Sep-23
Paid 12-Jan-24 31-Oct-23
Amount 1.25p 5.30p

Trades for 12-Apr-2024

Time Volume / Share Price
11:13 500 @ 227.00p
08:00 310 @ 215.10p

FIH Group Key Personnel

CEO Stuart Munro
CFO Reuben Shamu

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