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12 Nov 2019 | 13:28

FIH profit falls 7.6% as art handling revenue slips

UK and Falkland Island services group FIH reported a 7.6% fall in first-half profit amid weakness at its art handling and ferry businesses.

Pre-tax profit for the six months through September amounted to £1.25m, down from £1.35m on-year. Revenue fell to £19.4m, down from £19.6m.

FIH declared an interim dividend of 1.80p per share, up from 1.65p on-year.

'It has been a challenging period for several business divisions, and especially at Momart in the art sector, so we are satisfied that the group has delivered a resilient half year performance overall,' chief executive John Foster said.

'Supported by strength in the core Falklands business and tight cost control, the group's profit before tax was reasonably robust.'

'Meanwhile the group's cash position remains strong, and we are pleased to announce an increased interim dividend of 1.80 pence per share.'

'With a number of exciting medium to long-term growth opportunities in each of our diverse businesses, the board looks to the future with confidence.'

At 1:28pm: (LON:FIH) FIH Group Plc share price was -3p at 321p

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