Business
Preliminary Results
Preliminary Results.
About this update from Fih Group Plc
[{"type":"text","content":"\n RNS Number : 0663O Falkland Islands Holdings PLC 23 June 2010 \n \n\n23rd June 2010\nFalkland Islands Holdings plc\n(\"FIH\" or \"the Group\")\nPreliminary results for the year ended 31st March 2010 \nFalkland Islands Holdings plc, the AIM quoted international services Group, which owns essential services businesses focused on transport and logistics and which has a major shareholding in AIM quoted oil exploration company Falkland Oil and Gas Limited (\"FOGL\"), is pleased to announce preliminary results for the year ended 31st March 2010.\nFinancial Highlights\n· Reported pre-tax profit of £5.7 million (2009: loss £0.6 million)\n· Underlying pre-tax profits* up 17% to £2.7 million (2009: £2.3 million) \n· Earnings per share on underlying profits* increased by 15% to 21.7p (2009: 18.8p)\n· Reported earnings per share were 57.5p (2009: loss of 12.8p)\n· Significant non-trading income of £3.3 million, including £3.1 million profit on the sale of shares in FOGL\n· Strong cash flow reduced Group's net borrowings to £1.5 million (2009: £4.2 million) \n· Directors pleased to recommend a final dividend of 5.0p per share resulting in total dividends for the year of 9.0p per share up 12.5% (2009: 8.0p per share)\n*excludes amortisation and non trading items\nOperating Highlights\nThe Group's three trading businesses all performed well in difficult market conditions:\n· Falklands Islands Company (\"FIC\") \no Underlying operating profit up 9.5% to £1.38 million (2009: £1.26 million)\no Improved trading in H2 with the commencement of exploration drilling and the opening of the West Store extension\n· Portsmouth Harbour Ferry Company (\"PHFC\") \no Underlying operating profit up 1.3% at £0.79 million (2009: £0.78 million)\no Profitability maintained on reduced passenger numbers\n· Momart\no Underlying operating profit up 11.6% at £0.96 million (2009: £0.86 million)\no Performance improved in H2 with increased activity in the art market\no Revenues from services to commercial art galleries maintai...