Business
Results for the Six Months Ended 30 September 2021
Results for the Six Months Ended 30 September 2021.
About this update from Fih Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 8596R\n FIH Group PLC\n 10 November 2021\n \n \n \n 10 November 2021\n FIH group plc\n (\"FIH\" or the \"Group\")\n Results for the Six Months Ended 30 September 2021\n FIH, 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 2021 (\"the period\"). Comparisons shown below are for the same period in 2020 unless otherwise stated.\n \n Return to Profitability and Dividend List\n \n \n Highlights\n \n \n · Group revenue increased by 20% to £17.3 million (2020: £14.4 million) reflecting a markedly better performance from the UK based businesses and a continued good performance from the Falkland Islands Company (\"FIC\");\n \n · Pre-tax profit of £0.4 million (2020: loss of £0.2 million) with trading improving alongside the lifting of restrictions in the UK and significant scope for further improvement;\n \n · Passenger numbers rising again for Portsmouth Harbour Ferry Company (\"PHFC\") as people return to offices, and following cost savings from a 25% reduction in headcount last year, PHFC is expected to continue its recovery;\n \n · Much improved performance from Momart despite sections of the art world still largely shut and assuming the gradual reopening continues, further improvement is anticipated;\n \n · Strong cash position of £8.0 million as at 30 September 2021; and\n \n · Return to the dividend list with the payment of an interim dividend of 1.0 pence per share.\n \n \n \n Outlook\n \n \n \n \n · Direction of travel encouraging across all three divisions with the potential to accelerate further;\n \n · Balance sheet strength continues to underpin trading position and provide strategic flexibility; and\n \n · Overall, the outlook is positive as reflected in the Board's decision to re-instate the dividend.\n \n \n \n \n John Foster, Chief Executive, said:\n \"We have three good businesses and when conditions permitted, the Group quickly returned to profitability. Our financial position is strong and customer activity is heading back towards pre-pandemic levels. We are also benefitting from the actions taken last year to reduce our cost base, whilst continuing to invest in areas where we see opportunities. We expect the progress demonstra...