Results are out today. Respectable I thought but not great mainly due to problems at Momart.
I bought some of these as a punt on Falklands oil. |
The statement suggests a weaker year, partly due to Brexit, but still in line with analysts expectations. |
Record year for tourism.
hxxps://en.mercopress.com/2019/07/12/falklands-tourism-industry-broke-several-records |
New debt finance on long term mortgage. |
hxxps://en.mercopress.com/2019/07/06/falkland-islands-and-brazil-agreement-reached-for-historic-commercial-flight |
Good set of results this morning, eps up 20% - pe less than 13. |
hxxps://www.portstrategy.com/news101/world/south-america/falklands-government-issues-new-port-tender |
Results likely next week and improving news flow on Sea Lion oil project.
hxxps://en.mercopress.com/2019/05/17/premier-oil-finances-improving-and-so-are-falklands-sea-lion-project-prospects |
If Sealion gets the go ahead later this year, this could be massive, a 2019 shovel &
picks story.. |
Looks good - the only liability from Mar 2018 accounts I can see was related to pension provisions of approx £87K - now to be returned? |
"As a result, the board expects that subject to the completion of the audit, the Group will deliver a Pre-Tax profit that will exceed market expectations by a comfortable margin." |
hxxps://en.mercopress.com/2019/03/20/falklands-launches-procurement-process-and-issues-tender-for-a-new-port-facility |
FIH could buy Pebble Island, now up for sale - good for tourism and grazing sheep - I spent two days there in early 90s. It might fit with their existing portfolio of properties and land in the Falklands, but it is hard to value.
hxxps://www.travelandleisure.com/travel-news/pebble-island-falklands-penguins-for-sale |
If you look on google maps the site next door has a block of flats going up - probably now complete. So I guess it is valuable building land and they are securing it to better manage their business planning - if it were to be sold a developer they could be forced to leave early perhaps. But they could now relocate their warehouse and sell the land on again in their own timeframe without disrupting the business. |
That doesn't look like a good deal to me, very low yield. Hopefully the property has some residential planning prospects if things don't go well for Momart. |
New air link should boost economy. |
The fall seems harsh when you look at the prospects for building in Falklands. |
hxxps://www.building.co.uk/news/ramboll-victorious-in-falkland-islands-framework-tender/5095461.article The contract seems to cover £100m spend over 2018-22 ~£25m per annum. Although FIH are not the immediate beneficiary, there is going to be an increase in sub contract work and flow of money into the economy. |
This was advertised in the Penguin News - hxxp://en.mercopress.com/data/cache/noticias/64772/0x0/or.jpg
"The presentation by Premier Oil on Wednesday of this week was followed up with an advert in the Islands weekly local newspaper (The Penguin News) on Friday. The advert requests expressions of interest for a range of services such as accommodation, Base services, helicopter hanger provision and other infrastructure." |
hxxps://jobs.planningresource.co.uk/article/falkland-islands-expands-planning-team-/
"Development pressures arising from oil exploration and major infrastructure projects have led the Falkland Islands Government to seek to expand its planning team.
The authority says that the islands’ economy is “thriving̶1; and “development, in particular oil exploration and major government infrastructure projects, are bringing forward opportunities and challenges for potential growth”.
It says that, as a result of this increasing economic development, it is looking to expand its planning and building department." |
en.mercopress.com/2018/07/28/premier-oil-outline-procurement-and-infrastructure-plan-in-the-falkland-islands |
Good results, glad to see they are not willing to over pay for acquisitions. Would like to see more organic growth with bolt on purchases and focus on core strengths. |
excellent results |
Actually it says the report & accounts will be out mid-June; the results will be announced......tomorrow! (according to the calendar section on the co website) |
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