FIH Group Remains Positive Despite Mixed Performances

By Christian Moess Laursen

The AIM-listed international services group, FIH Group, announced on Thursday that despite mixed performances in its business units during the first five months of fiscal 2024, its business outlook remains positive.

Portsmouth Harbour Ferry Company (PHFC), a subsidiary of FIH, has exceeded expectations in the April-to-August period. The cumulative passenger numbers have remained in line with the prior year.

On the other hand, Momart, an art transport, storage, and handling company, has experienced a varied performance. While its gallery service has shown improvement compared to the previous year, there has been slower activity in museum exhibitions. However, the company’s order book indicates a stronger second-half performance.

In the retail business, FIH’s subsidiary Falkland Islands Company faced a slower start to the year due to delayed project delivery and persistent inflationary cost pressures. Nevertheless, these delays are expected to be reversed in the second half of the fiscal year.

Looking ahead, FIH Group maintains a positive outlook. PHFC continues to perform as expected, and both Momart and Falkland Islands Company are expected to exhibit a stronger performance in the second half.