REG - FIH Group PLC - AGM Statement

FIHAnnouncement

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RNS Number : 3318A  FIH Group PLC  23 September 2025

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.

 

23 September 2025

FIH group plc

 

("FIH" or "the Group")

 

AGM Statement

 

 

FIH group plc, the AIM quoted international specialist services group with
businesses in the Falkland Islands and UK, is holding its Annual General
Meeting ("AGM") today.

At the meeting, the Chairman, Nick Henry, will make the following statement:

"On behalf of the board, I am delighted to welcome shareholders to the FIH
Group AGM.

Performance for the Year Ended 31 March 2025

It was a challenging year for the Group, particularly in the Falkland Islands
Company ("FIC"). The market remained difficult for Momart, but this continued
to be addressed by focussing on client relationships, process efficiency and
cost management. Passenger numbers at Portsmouth Harbour Ferry were slightly
reduced but this was mitigated by a combination of fare pricing, cost
management and the maximisation of secondary revenues.

Although an underlying loss before tax and non-trading items of £6.2m was
reported for the year, the second half showed signs of operational improvement
across most sectors of our businesses.

Following the payment of an interim dividend of 1.25 pence per share in
January 2025, a final dividend of 5.5 pence per share is proposed. This would
result in a total regular dividend for the year ended 31 March 2025 of 6.75
pence per share, in line with the previous year.

In addition, following the £22.65 million sale and leaseback of Momart's
warehousing facility in Leyton, the Directors are also proposing a special
dividend of 70 pence per share, to be paid together with the final dividend.

Taking the interim dividend, the proposed final dividend and the proposed
special dividend together, the total dividend would be 76.75 pence per share
(2024: 16.75 pence per share, including a special dividend of 10 pence per
share).

Post Year End Performance

Trading in FIC continues to be challenging, with the biggest impact arising in
the construction division as a result of a lack of tender opportunities and
ongoing delays related to the contract to build 70 Houses for the Falkland
Islands Government and the Ministry of Defence. The main issue has been the
lack of power to the Mount Pleasant Complex site, which is the responsibility
of the client. Encouragingly, power was provided on site in September, which
should facilitate improved progress in the coming Austral summer. Claims
negotiations on this contract are progressing well with the client. A new
managing director and finance director of FIC were appointed post year end and
have been tasked with delivering a programme of improvement across all areas
of the business.

At Momart, ongoing issues in the art market due to global economic uncertainty
have resulted in significantly lower trading activity than in the prior year,
for both Museum Exhibitions and Gallery Services. However, Storage income has
remained consistent. In mitigation, the business continues to focus on client
relationships, process efficiency and the cost base, with a number of savings
already having been identified and delivered.

Whilst passenger numbers are marginally below prior year at Portsmouth Harbour
Ferry Company, this is being offset by the April 2025 fare rises and
additional secondary revenue, as well by maintaining a tight control on costs.

Outlook

Whilst there are challenges ahead, particularly in FIC and Momart, management
teams are now in place in all businesses, action plans are underway and
progress is being made."

 

 

 

Enquiries:

 FIH group plc

 Stuart Munro, Chief Executive           Tel: 01279 461630

 Reuben Shamu, Chief Financial Officer
 Zeus - NOMAD and Broker to FIH

 Mike Coe / James Bavister               Tel: 0203 829 5000

 Novella Communications

 Tim Robertson / Chris Marsh             Tel: 0203 151 7008

 

 

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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