FIH group plc (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.
The Board’s primary objective is to grow shareholder value on a sustainable basis by developing its existing businesses both in the UK and in the Falkland Islands .The group also plans to utilise its surplus cash balances to make earnings enhancing acquisitions whilst ensuring the regular payment of an affordable dividend.
As outlined in the 2017 annual report by setting the dividend at an affordable level, the new dividend payment policy will allow the retention of the majority of profits to fund organic growth and to help finance acquisitions, whilst at the same time providing an attractive running yield for shareholders. Our new policy will be to pay a cash dividend which will be targeted to be three times covered by after tax profits.
In the Falkland Islands, the Group is well placed to capitalise on the commercial oil discoveries in the North Falklands basin when the economics of filed development become more favourable and also in the longer term on the expected future growth in land based tourism. In the UK, where the Group already has two strong specialist services businesses, the Group will seek to develop its UK presence further through both organic and acquisition led growth.