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Welcome to Falkland Islands Holdings

Falkland Islands Holdings (FIH) is quoted on AIM (Alternative Investment Market), incorporated in the United Kingdom, with operations in the Falkland Islands and the UK. Its business activities in the Falklands are conducted by The Falkland Islands Company (FIC), established by Royal Charter in 1852. FIC's activities include retailing, property, insurance, hotels, shipping and fishing agency services.

In the UK the group operates a long established passenger ferry service across the mouth of Portsmouth harbour, Portsmouth Harbour Ferry Company (PHFC).

On 5 March 2008 the group acquired MOMART, a market leader in the handling and storage of fine art and antiquities, To read more on the subject please view this presentation.

On Thursday 1 December 2011 the Group released its Interim Results for the 6 months to 30 September 2011.

David Hudd, Chairman of FIH, said:
"The Group is pleased to report encouraging results for the six months to 30 September 2011.

Group revenue increased by 15% to £16.51 million (H1 2010: £14.35 million) and underlying Profit Before Tax (before amortisation) grew by 3.5% to £1.19 million (H1 2010: £1.15 million).

After charging £0.2 million for the amortisation of intangibles, reported profits before tax were £0.99 million (H1 2010: £0.95 million). Diluted earnings per share based on reported earnings were 6.8p (H1 2010: 6.7p) and based on underlying earnings were 9.0p (H1 2010: 8.9p).

The Board is proposing an unchanged interim dividend of 4.0p per share which will be paid on 27 January 2012 to shareholders on the register at the close of business on 16 December 2011.

The Group's financial position remains strong with bank borrowings of £3.5 million at the Period end (31 March 2011: £4.0 million), cash balances of £2.4million (31 March 2011 £2.1million) and a positive cash flow.

Whilst the economic environment remains challenging, we are confident that the Group's businesses will continue to perform well.

The Group's trading businesses demonstrated resilience in the tough market conditions. Momart's performance has improved. The Portsmouth Harbour Ferry Company saw modest declines in passenger numbers, however fare increases meant that profits were maintained.

In the Falklands, we anticipate a typical second half weighting with a seasonal uplift of demand with the arrival of the Austral summer. We believe that the likelihood of commercial oil production has increased and we are working on our plans to expand and strengthen our business units to take advantage of the opportunities which would follow.

The deep water drilling programme expected to take place from February to August 2012, should ensure that the Falkland Islands remains in the spotlight. A further discovery would magnify the opportunities for the Group and your board is focussed on developing plans to fully realise that potential."

In addition to its core operations FIH holds a significant investment in a related oil and gas exploration company based in the Falkland Islands. Falkands Oil and Gas Limited (FOGL).

Interim results 2011 presentation (pdf 3mb)