FIH shares fall despite annual profit, revenue, and dividend increases
By J Brock (FINN)
On Monday FIH Group PLC reported higher profit and revenue and an optimistic financial outlook.
FIH, a specialist services group with businesses in the UK and the Falkland Islands said pre-tax profit in the financial year to March 31 jumped 48% to £4 million from £2.7 million a year prior.
According to RNS News on the London Stock Exchange, revenue grew 31% to £52.7 million from £40.3 million, the fastest growing and biggest unit, the Falkland Island Company, saw revenue climb 37% to £29.4 million from £21.6 million last year.
The company declared a final dividend of 5.3 pence per share, up from 2.0p a year prior. This brings the final dividend to 6.5p per share, more than doubled from 3.0p a year ago.
FIH said its outlook remained positive, as the return of tourism to the Falkland Islands “should continue to boost both direct and indirect revenues across a number of business sectors, which should help to mitigate the challenges of the current global economic crisis.”
The Company said that that its ongoing focus on pricing and cost control gives confidence for the future, as cost and fare-pricing are carefully managed.
FIH shares fell 3.5% to 245.00 pence each in London on Monday morning despite the good news.
Sources: London Stock Exchange, Alliance News, VOX Markets, Morrningstar