|Falk IS. Hldgs
||EPS - Basic
||Market Cap (m)
Falk IS. Hldgs Share Discussion Threads
Showing 1801 to 1818 of 1825 messages
|This is the new thread.
|Well that didn't take long.|
|Correct Weatherman. I don't how to do it, perhaps someone else does?|
|Someone needs to start a new thread with EPIC FIH - the price is rising, but not reflected on here.|
|This is a very stable, conservatively run company. Using the normal valuation methods, the company (now called FIH Group) is an absolute bargain at £2.
Net asset value per share about £3.10, and £1 per share held in cash after netting off the small amount of debt.
Following Wednesdays announcement from the FO that various agreements with Argentina on trade, oil and other things are now in place, and with the strengthening outlook for oil, I expect the share price to progress towards its historic level.|
|Eburne actually don't worry i am sure with all this bad news at Crawshaw they will have the 13' black pudding on special offer.|
|I'll be very happy to when I return from holiday - though no doubt you will still question it....
what you still can't comprehend is that I have not moaned or called you dopey about the profit warning, or your (probably lucky) guess the day before it. What I find dopey is your reaction to being corrected on a regulatory issue - and you have the cheek to query my age?
ps. you are also obviously dopey in that you don't realise that virtually all the historic posts you pasted are directed at the same individual on different boards - do keep up!|
|If i the one person posting Crawshaw sales were sluggish is 'dopey' what the hell does that make you when the company confirm this very fact and you lose 42% of your lidl wages in one day, frigging Einstein???
LOLS yes we believe you. Same as all the millions of others who claimed to have sold at the very top, (and it is always the very top) after a 42% fall.
I am sure you will not mind posting your contract note to verify this point. Not that i dont believe you ...|
|For your information dopey doctor, (apologies to the others on this board for going o/t) I have been on holiday, so forgive me for not being on here 24/7 like you. And, to put things straight, I was in CRAW for the 2 weeks prior to the finals earlier in the year, sold at 93p for a 15% profit, and just an interested watcher since. Sorry to disappoint you! Finally, I put you straight on your incorrect statement that you have to deal to be accused of insider dealing - I merely pointed out that you can be caught for passing on price sensitive info whether you are an insider or not. Rather than acknowledge your error, all you have done is whine about not being an insider (which I never said you were) and follow me onto another board (where I posted, er, facts, remember those?). Strikes me you just confirm what I have always said - you ARE dopey!|
|A thaw in UK/Argentine relations:
|I see the new Falkland Island Government CE is a Barry Rowland....is that family...?|
|the malvinas judgement and waters probably impacting price more than a not marvellous update. If oil corrects this lot are behind the curve. Pre April 17 fireworks today.
2003 support level visited today. Due a bounce? Guess people will dump cash in art as they are in gold and silver today so momart might be helped.|
|Take out the £11m cash and the business is priced at £11m for £38m turnover and possible 10-15% margins..|
|You may wonder where this extra promised growth is.... They invested more in Momart, a very competitive business area, which is impacting profit margins.... Other parts of the business look flat.
Still they now have near £11m net cash - and a sum-of-the-parts is worth far more that the current mkt cap..|
|Now a company run by its management for the benefit of its management - disgraceful.|
|RNS Number : 8549U
Falkland Islands Holdings PLC
12 April 2016
12 April 2016
Falkland Islands Holdings plc
("FIH" or "the Group")
Pre-Close Trading Update
Falkland Islands Holdings plc ("FIH"), the AIM quoted international specialist services group with businesses in the Falkland Islands and UK, is pleased to provide the following update on trading for the year ended 31 March 2016.
-- Trading in the second half was satisfactory; profitability, although lower compared to H2 last year, was broadly in line with expectations, albeit the Full Year Underlying Profit before Tax is likely to be some 10-15% lower than the prior year at c GBP3.0-GBP3.2million, principally due to the reduced contribution from Momart.
-- The Group's cash flow was strong and FIH ended the year with record cash balances of GBP14.0million, an increase of over GBP6million compared to 31 March 2015 (GBP7.4million).
-- Falkland Islands Company - In the Falklands, trading was buoyant with FIC's contribution at record levels as the business took advantage of the significant boost to the economy from the offshore oil exploration drilling.
Momart - At the Group's art handling and logistics business, Momart, profitability improved in H2, compared to the first half, helped by modest sales growth, although profits were still markedly lower for the full year, following significant investment in marketing and sales infrastructure and continuing competitive pressure in a slowing global art market.
-- Portsmouth Harbour Ferry Company - Passenger numbers were 3.3% lower than in the prior year, but trading at the Group's passenger ferry business was broadly satisfactory, at levels only slightly below 2014-15.
-- Group Trading performance - The Group's overall trading performance for the year to 31 March 2016 (i.e. underlying pre-tax profits, before amortisation and non-trading items), is expected to show a 10-15% decrease in comparison to the prior year, principally due to the reduced contribution from Momart.
-- At a non-trading level, restructuring in the UK and Falklands, designed to reduce ongoing overheads, was more than offset by the GBP0.4million of profits generated in the first half from the sale of the Group's residual holding of 5million shares in Falkland Oil and Gas in April 2015.
-- Cash and Bank Borrowings - At 31 March 2016, the Group had cash balances of GBP14.0 million and bank borrowings of GBP3.3million, i.e. net cash of GBP10.7million (GBP6.7million at 31 March 2015)
-- The impact of low oil prices and market backdrop has delayed oil development in the Falklands, resulting in the Group shifting its strategic growth focus in the near term towards developing its UK operations through further investment in existing businesses and through the pursuit of high quality acquisitions.
-- Strategy is aimed at creating a larger quoted entity with a wider appeal to investors that will in turn enhance shareholder liquidity and the Group's rating.
-- Execution of this strategy will be aided by the Group's record cash reserves of GBP14million (GBP1.13 per share) and the Group's solid existing earnings base which provides untapped borrowing capacity.
Falkland Islands Company ("FIC") - As expected, the Group's Falklands business continued to benefit from the uplift in economic activity linked to the exploration drilling programme seen in the first half. Although drilling was brought to an end in February 2016, support company activity continued through to 31 March and will not tail off until early in the next financial year. Retail demand grew and sales at FIC's flagship West Store increased to record levels. Property income was boosted by corporate oil related lets and vehicle hire and new vehicle sales also reached record levels. Construction activity remained buoyant and although the Group's construction Joint Venture, "SAtCO" had largely completed oil related construction contracts in the prior year, equipment rental to support the drilling programme and local work for government and Ministry of Defence lead contractors at MPA helped SAtCO's contribution remain at healthy levels. Some limited restructuring of the local management team was undertaken at the end of the financial year in order to right- size the business for the quieter trading period that will follow the departure of the oil rig next year.
Momart - After a first half with flat sales and profits impacted by the effects of increased investment spend on marketing, business development and improved systems, Momart saw a modest increase in revenue in H2 and this helped lift profitability. However the fiercely competitive UK and international art market saw a continued squeeze on margins. This, coupled with a lower level of lucrative, high added value, overseas sales, meant that Momart's H2 contribution, although showing some improvement on the first half, remained lower than the prior year. For the full year, the impact of increased investment, a less lucrative sales mix and continuing competitive pressure saw a marked fall in full year profitability. Despite this dip, prospects for future growth over the medium term remain positive, and construction is now well advanced on a new state of the art storage facility at the company's Leyton site which will add 33% to capacity. Completion is scheduled for mid-summer 2016 and Momart's pre-letting of this additional space is now underway.
Portsmouth Harbour Ferry Company ("PHFC") - Ferry trading performance was satisfactory. Revenues were essentially flat, with a continuing 3.3% decline in passenger numbers, caused by the increased appeal of car travel linked to cheap petrol, a subsidised Park & Ride scheme, and the passenger disruption caused by Portsmouth Council's modernisation and reshaping of the passenger interchange at Portsmouth Hard. However these negative factors were largely offset by the 3% fare increase put through in June 2015. Additional activity from the highly successful Americas Cup racing off Portsmouth Harbour helped boost cruising income in summer 2015. Increased wage costs and additional depreciation from the company's newly commissioned ferry, "Harbour Spirit", were partially offset by a fall in marine diesel fuel costs. Overall operating costs increased by 2-3% in the year leading to a small decrease in profitability.
For the year ahead, we anticipate a quieter period in the Falklands. The squid catch this Spring has dropped back from the exceptional levels seen in the previous two years and in retailing, FIC's principal competitor has recently launched a 33% expansion of its store. Given this and the conclusion of exploration drilling for the foreseeable future, FIC will face significant headwinds in the coming year and profits at FIC are expected to revert to the more normal "pre-oil" levels seen in prior years.
At PHFC, in the coming year the emphasis will be on tight cost control, in the face of short term pressures on passenger numbers caused by cheap petrol and physical disruption caused by the reconfiguration of the passenger interchange at the Portsmouth ferry terminal. In the longer term, plans to expand the Portsmouth naval base and new proposals to redevelop the harbour at Gosport should help to reverse the decline seen in recent years.
At Momart, we anticipate a stabilising of the core trading position as we see the benefit of the recent investment in sales and marketing feed through to underpin continued sales growth and shore up margins. Initially though, the warehouse expansion will be a drag on profits, with an increase in fixed costs not fully covered by new storage revenue in the first year. Over the medium term however, as Momart's new facilities reach capacity, prospects for a steady and sustained recovery in profitability are good.
Future Group Strategy
The low price of oil means that the development of proven oil reserves in the Falklands will now be delayed and although the board of FIH remains confident that oil production and dramatic economic growth will ensue in the Falklands in due course, the timing of this remains uncertain. However, following the substantial capital and human investment in FIC seen in the past few years, the company is well placed to take full advantage of the growth that will ultimately emerge.
With further growth in the Falklands now delayed, the Group's focus in the near term has shifted to developing its UK operations through further investment in its existing businesses and through the pursuit of high quality acquisitions. This strategy, to create a platform for sustainable long term growth, is aimed at creating a larger quoted entity with a wider appeal to investors that will in turn enhance shareholder liquidity and the Group's rating. Execution of this strategy will be aided by the Group's record cash reserves of GBP14million (GBP1.13 per share) and the Group's solid existing earnings base which provides untapped borrowing capacity.
The Board's policy of re-investing profits to support accelerated growth will continue and the Group currently has no plans to reintroduce the payment of a dividend.
The Group's Preliminary Results for the year ended 31 March 2016 are expected to be released on Tuesday 14(th) June 2016.
Chairman of FIH, Edmund Rowland, commented:
"The Group has delivered another solid trading performance, in line with expectations, and with strong positive cash flow closing the year with record cash balances of GBP14million, giving cash per FIH share of GBP1.13.
"As Chairman, I remain keen to build on the secure foundations already established and to build the Group's long term success with a focus on growth through investment and selective acquisitions. The Group's strong cash position and significant borrowing capacity will be key factors facilitating this growth.
(MORE TO FOLLOW) Dow Jones Newswires
April 12, 2016 02:00 ET (06:00 GMT)
"In the Falklands, we remain confident about FIC's exceptional long term potential following a recovery in the oil price and in the near term we have a healthy profitable business that has little immediate need for heavy further investment.
"In the UK, the Group continues to benefit from its two established specialist services businesses, Momart and PHFC, and beyond this solid base we see further opportunities to develop the scale of the Group's activities through selective, focussed acquisitions and organic growth. I look forward to updating the market on our growth strategy as the year progresses, as we seek out opportunities that will create an enhanced platform for sustainable long term growth."
- Ends -
Falkland Islands Holdings plc
Edmund Rowland, Chairman Tel: 020 7087 7970
John Foster, Managing Director Tel: 01279 461 630
WH Ireland Ltd. - NOMAD and Broker
Adrian Hadden / Mark Leonard Tel: 020 7220 1666
Edward Westropp / Eleanor Purdon Tel: 020 3727 1000
This information is provided by RNS|
|It will be interesting to see how much work comes the way of FIH. This is the military harbour and not the one managed by FIH, but still there is likely to be a knock on effect of accommodation for workers, aggregate etc.|