REG - FIH Group PLC - Disposal of The Portsmouth Harbour Ferry Company

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RNS Number : 8137U  FIH Group PLC  02 March 2026

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.

 

 

2 March 2026

FIH group plc

 

("FIH" or "the Group")

 

Disposal of The Portsmouth Harbour Ferry Company Limited ("PHFC")

 

 

FIH group plc, the AIM quoted international specialist services group with
businesses in the Falkland Islands and the UK, is pleased to announce that it
has completed on a contract with TC Gosport Bidco Limited ("Gosport Bidco")
for the sale of the entire issued share capital of PHFC, including its
subsidiaries, for £11.62 million. The ultimate UK parent company of Gosport
Bidco is TC UK Topco Limited, the indirect majority owner of Uber Boat by
Thames Clippers, which is the principal trading name of Collins River
Enterprises Limited.

PHFC and its subsidiaries generated a profit before tax of £0.53 million for
the year ended 31 March 2025 (after the allocation of head office and plc
costs) and as at 30 September 2025, had net assets of £2.79 million. The net
book value of the investment in PHFC in the company accounts of FIH at 30
September 2025 was £7.59 million.

Stuart Munro Chief Executive, FIH group plc, said:

"I am delighted to announce the sale of PHFC. This is a positive transaction
for the Group, delivering cash of circa £11.6 million and achieving a 53%
increase on the net book value of our investment in the business, before
transaction costs and corporation tax on the profit on disposal.

I would also like to take this opportunity to thank the staff and management
team at PHFC for their hard work and dedication during the time that the
business has been part of the Group and to wish them every success for the
future under new ownership. We're confident we have found a new owner with
deep industry experience, who will continue to put the customer and team at
the heart of decision-making.

The proceeds from the sale are likely to be predominantly utilised for a
combination of re-investment within the remaining companies in the Group and a
return to shareholders."

 

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: 020 3829 5000

 Novella Communications

 Tim Robertson / Chris Marsh             Tel: 020 3151 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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