27
September 2024
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 2024
We were pleased to report on a year
in which we generated an underlying pre-tax profit of £3.4 million
compared to £3.2 million in the prior year.
Despite facing a complex and
challenging global environment, a continued operational focus,
together with the inherent resilience of our diversified business
model, has sustained performance and ensured the delivery of value
to both shareholders and stakeholders.
Following the payment of an interim
dividend of 1.25 pence per share in January 2024 and reflecting the
increased profit in the second half of the year, a final dividend
of 5.5 pence per share is proposed. This would take the total
regular dividend for the year ended 31 March 2024 to 6.75 pence per
share (2023: 6.5 pence per share).
In addition, the Directors are also
proposing a special dividend of 10 pence per share, to be paid
together with the final dividend, to maintain an appropriate
balance between cash returns to shareholders and investment in the
business.
Together with the interim dividend,
the proposed final dividend and the special dividend, the total
dividend for the year ended 31 March 2024 would be 16.75 pence per
share (2023: 6.5 pence).
Post
Year End Performance
Passenger numbers and performance at
Portsmouth Harbour Ferry Company in the period from 1 April 2024 to
31 August 2024 were broadly in line with the prior year.
At Momart, trading activity has also
tracked the prior year, albeit with a small increase in Museum
Exhibitions offsetting a slight reduction in Gallery Services.
Overall, this is behind internal plans but reflects the continuing
challenges brought about by the current global economic situation.
The strong order book in Museum Exhibitions, coupled with a series
of proactive business development initiatives, should improve the
position over the remainder of the year.
The Falkland Islands Company ("FIC")
had a difficult start to the current financial year, driven mainly
by the continuing slippage of construction tender awards, as noted
in the trading statement issued on 30 July 2024. In addition, the
departure of the FIC Managing Director and the Falkland Building
Services management team earlier this year, and the delay in their
replacement, given the challenge of doing so in a remote location,
is now also starting to adversely impact trading. The process to
secure permanent replacements is progressing and in the meantime,
support is being provided to FIC through a combination of
assistance from Group and the use of interim resource.
Outlook
The Group is currently navigating a
challenging period, particularly in the Falkland Islands. However,
the longer-term trading outlook remains positive."
Enquiries:
|
FIH
group plc
Stuart Munro, Chief
Executive
Reuben Shamu, Chief Financial
Officer
|
Tel: 01279 461630
|
|
Zeus Capital Limited - NOMAD and Broker to
FIH
Chris Fielding / James
Bavister
|
Tel: 0203 829 5000
|
|
Novella
Communications
Tim
Robertson / Chris Marsh
|
Tel: 0203
151 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.