I would make the point weatherman I think FIH is a well run company;the problems it has/is facing are totally outside its control & I am sure it is doing all it can to overcome them.I think the longer term future of the Falklands business is good & will improve once business is fully open.The UK businesses face considerable challenges both are highly operationally geared.With Portsmouth Ferry there seems to be a fall in commuter traffic and the jury is out if this will return,without it I doubt if it will at best do more than cover its costs I think we have a lease liability going on for 40 years.....With Momart without a reopening of exhibitions & return of more physical,rather than online auctions we will struggle to make a worthwhile return. |
"Portsmouth Ferry Co is at best worthless as we have a substantial lease liability connected to the business." that seems harsh - the lease is paid for out of future earnings for what is essentially a utility service. But accounting rules require it to be stated as a current debt. |
It looks like 2023 before recovery when we should see a return to income growth with cruise ships back in FI & hopefully a return to more normal foreign tourism in London which may encourage major art exhibitions and a return of more live auctions.Interest in warehouse property might begin to justify the book value of the Momart storage unit but we are a long way from getting a realistic return on our investment in the company.Portsmouth Ferry Co is at best worthless as we have a substantial lease liability connected to the business. |
Good trading update towards recovery and resumption of dividend - but no reaction - looking very oversold imo. |
FIH was marked down on news of Sea Lion project trouble, which seems unfair. The investment case for FIH has long ago discounted the expectation of profits from the oil sector. |
Surprised no response in the share price from a positive message. |
Thanks for pointing that out weatherman, I had missed that this morning. |
AGM statement and trading update this morning - see RNS above. There has been a steady recovery in recent months as lockdown has eased. |
Missed this one - FIC sub awarded contract to build new airport terminal building. |
It looks as if we are at best a year away for any opening up of the art exhibition market in the UK.Nobody is going to go to risk the expense of planning an exhibition which takes perhaps a year to organise until there is certainty that it can open without restrictions.Under Boris UK,and esp London, remains about as culturally attractive to visitors as North Korea.The ferry business might improve a bit over the summer with the UK staycation market.Falklands keep the show just about on the road;but I think we will have to put our shares in the bottom drawer for at least a year!The price we paid for the art storage premises is looking a bit high..... |
Breakeven overall with lockdown, and good trading in Falklands - retained strong net cash balance - not as bad as could have been. |
There was a trading statement about this time last year - trading below NAV, mainly cash plus property. |
hxxps://www.stockmarketwire.com/article/7195931/Rockhopper-Exploration-given-extension-of-North-Falkland-Basin-licence-interests-by-Falkland-Islands-Government.html |
This should be of some benefit for Momart. I've bought a few more for recovery. hxxps://inews.co.uk/news/politics/budget/rishi-sunak-budget-2021-announcement-arts-funding-tax-increase-william-hague-893566 |
With hope of an end to lockdown this one should bounce back above 300p soon - imo. |
Brexit fall out is hitting the Falkland fishing and meat industry, but infrastructure projects and housing should be picking up the slack. Looking for recovery in the UK side as spring approaches and Covid restrictions ease. |
hxxps://en.mercopress.com/2020/11/23/falklands-26-capital-program-projects-focused-on-new-port-and-power-plant-tussac-house-and-housing |
Apologies for disturbing everybody but one of my own stalkers NIGOIL, often referred to as NOBOIL by most users of the RKH message board users will be arriving shortly to post more lies / exaggerations / falsehoods & inaccuracies, so I'm leaving a trail of bread crumbs for him to follow.
Come on Bravo Two Zero, keep up fellah, weren't you in the Paras or was it Special Forces ? Didn't you SINGLE HANDEDLY free Port Stanley from the Argies ?? |
As good as could be expected - strong cash pile, tight control of cash flow during period of loss. Sad to see redundancies as new lockdown began. |
Perhaps the sells today are related to Premier Oil reverse takeover. |
The directors have been appointed by the controlling shareholders - I am sure they will work to protect the value of the company. |
Yes, a small Director purchase to increase a previously very small holding.
It would be comforting to see Directors buying a substantial amount at this price. |
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