REG - FIH Group PLC - Full Year Trading Update

FIHAnnouncement

05/05/2023 12:15

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RNS Number : 6134Y  FIH Group PLC  05 May 2023

5 May 2023

FIH group plc

 

("FIH" or the "Group")

 

Full Year Trading Update

 

 

 

FIH group plc, the AIM quoted international specialist services group with
businesses in the Falkland Islands and the UK, is pleased to provide an update
on the Group's trading performance for the year ended 31 March 2023.

 

The progress demonstrated in the Group's first half results continued in the
traditionally stronger second half of the year. As a result, the Board expects
that, subject to the completion of the audit, the Group will deliver an
underlying pre-tax profit significantly ahead of market expectations for the
year ended 31 March 2023.

 

Trading at Momart continued to improve across all segments of the business. At
Portsmouth Harbour Ferry, passenger numbers continued to recover, resulting in
an overall volume for the year of 80% of pre-COVID levels compared to 70% in
the prior year. Underlying pre-tax profit for FIC remained broadly in line
with the prior year.

 

The Group's cash position remained strong, improving by £3.2 million during
the year to close at £12.8 million. Net bank borrowings of £0.5 million were
£4.2 million lower than at the prior year end.

 

Stuart Munro, CEO of FIH, said, "I am delighted to be able to report continued
improvement in the Group's trading performance and cash position. The
challenge of the global economic crisis remains, but the progress delivered to
date, an ongoing focus on pricing and cost control and the strength that our
geographical breadth and diversity of operations brings, give me confidence
for the future."

 

 

 

 

 

Enquiries:

 FIH group plc

 Stuart Munro, Chief Executive           Tel: 01279 461630

 Reuben Shamu, Chief Financial Officer

 WH Ireland Ltd. - NOMAD and Broker

 Chris Fielding / James Bavister         Tel: 0207 220 1666

 Novella Communications

 Tim Robertson / Chris Marsh             Tel: 020 3151 7008

 

Market Abuse Regulation (MAR) Disclosure

This announcement contains inside information for the purposes of Article 7 of
the UK version of Regulation (EU) No 596/2014 which is part of UK law by
virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon
the publication of this announcement via a Regulatory Information Service,
this inside information is now considered to be in the public domain.

The person responsible for arranging the release of this announcement on
behalf of the Company is Stuart Munro Chief Executive Officer of the Company.

 

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