Business
Interim Results
Interim Results.
About this update from Fih Group Plc
[{"type":"text","content":"\n \nRNS Number : 8282H FIH Group PLC 20 November 2018 \n\n20 November 2018\n \nFIH group plc\n \n(\"FIH\" or the \"Group\")\n \nResults for the six months ended 30 September 2018\n \nFIH, the AIM quoted group that owns essential services businesses in the UK and Falkland Islands, is pleased to announce its unaudited results for the six months ended 30 September 2018 (\"the period\"). Comparisons shown below are for the same period in 2017 unless otherwise stated.\n \n \nGroup Financial Highlights - Underlying profits maintained despite pressures on turnover\n· Group revenue reduced by 5% as anticipated to £19.6 million (2017: £20.5 million), mainly due to phasing of construction activity\n· Profit before tax flat at £1.35 million (2017: £1.40 million)\n· Underlying profit before tax excluding non-trading income £1.35 million (2017: £1.34 million)\n· Diluted earnings per share: 8.3p (2017: 8.7p)\n· Bank borrowings at 30 September 2018: £3.1 million (31 March 2018: £3.3 million)\n· Cash balances at 30 September 2018: £15.6 million (30 September 2017: £15.0 million)\n· Interim dividend increased by 10% to 1.65 pence per share (2017: 1.5 pence per share)\n \nOperating Highlights\n \nFalkland Islands Company (\"FIC\") - Steady profit performance despite temporary reduction in house sales\n· Revenue 7% lower at £7.97 million (2017: £8.58 million) due to reduction in construction activity\n· Profit before tax marginally reduced at £0.45 million (2017: £0.50 million)\n· FBS (Construction) revenue reduced by £1.0 million due to delays in release of land for new housing, and focus on expanding FIC's own property portfolio\n· Retail sales encouraging at £4.2m (up 5.6%) and Falklands 4x4 sales (up 12.0%). Support services revenue ahead following improved squid catch\n· Tenders for onshore oil support facilities expected in the second half of the year\n· Confirmation of hoped for second flight from South America still ...