LONDON (ShareCast) - (Sharecast News) - Specialist services firm FIH Group said on Friday that trading in the second half had remained "challenging" for its UK businesses, with a full national lockdown in four of the six months of trading.

However, FIH stated its Falkland Islands operations had "traded well", resulting in an expected overall group breakeven result for the full year.

The AIM-listed group highlighted that the emergence of the UK from lockdown restrictions would benefit its British subsidiaries, particularly Momart, when galleries and museums begin to reopen, and the Portsmouth Harbour Ferry.

FIH added that its cash position remained "strong", with cash balances at 31 March of over £14.0m and bank borrowings of £20.2m, including a £5.0m interest-free CBILS loan, taken out as a precaution and to be repaid in June 2021.

Looking to the future, FIH said the financial position of the group was also strong, stating it was "well placed" to invest in the growth and recovery that its board remains confident will occur in the new financial year.

"The group's operating businesses remain fundamentally healthy and capable of both recovering to pre-Covid levels and delivering further growth," said FIH.

As of 0840 BST, FIH Group shares were up 2.0% at 204.0p.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE