FIH profits rise amid 'satisfactory' performance from all businesses
Source - SMW
Services business FIH posted a 17.1% rise in profits amid 'satisfactory' performance at all three of its operating businesses.
For the year ended 31 March, pre-tax profits rose 17.1% to £3.86m from £3.24m and revenue increased to £42.5m from £43.8m.
The rise in profits was helped by a £0.2m release of a provision made in the previous year, the company said.
The company recommended a final dividend of 3.35 pence per share, up from 3.0p last year, taking the total dividend for the year to 5.0p a share, up 11% on last year.
'In the Falkland Islands, the Group took advantage of an expected and temporary hiatus in house building to develop its rental property portfolio whilst a stronger performance from Retail and Support Services helped FIC maintain a continuing increase in profits,' said John Foster, Chief Executive.
'At PHFC, revenues were essentially unchanged but careful management helped mitigate local external challenges. At Momart, increased demand for its own added value services resulting in a richer sales mix, helped strengthen margins further.'
'With our strong cash position, we will focus on maximising growth opportunities within the Group, while remaining open to suitable acquisition opportunities and we are confident that we are well-positioned for the year ahead.'
At 10:13am: (LON:FIH) FIH Group Plc share price was 0p at 313p