Falkland meat export plant on track for a profitable year
Saturday, August 6, 2022 – 12:32 UTC
FIMCO will close the financial year on 30 June with a profit of £600,000, which includes a £500,000 subsidy and a £100,000 net profit.
The Falkland Islands Meat Company (FIMCO) is projected to make a profit of around £100,000 for the 2021/22 fiscal year, said MP-elect Teslin Barkman during a question-and-answer session in the Legislative Assembly this week.
Legislator Barkman thus answered a question from his colleague, legislator Roger Spink, who was interested in knowing FIMCO’s projected results for fiscal year 2021/22, while comparing the annual subsidy the processing plant receives from the island government. In.
Legislator Barkman said that noting that some of the latest information for the closing month, June, was still in the process of being compiled, and therefore still lacks the latest data to complete the fiscal year, “the situation indicates that FIMCO’s budget will be roughly balanced, with subsidies.
However, projected results for the year ending 30 June 2022 indicate a profit of around £600,000, excluding a full container that is waiting to be shipped overseas. 500,000, so the net profit for the year would be in the order of £100,000.”