Five Year Financial Summary

Consolidated Income Statement

  2014
£'000
2015
£'000
2016
£'000
2017
£'000
2018
£'000
Falklands Islands Company 15,881 18,506 18,495 17,828 18,259
Momart 18,258 15,753 16,257 18,380 21,222
Gosport Ferry ( PHFC ) 4,124 4,301 4,244 4,286 4,349
Total Group Turnover 38,263 38,560 38,996 40,494 43,830
Falklands Islands Company 1,098 1,484 1,819 1,136 1,385
Momart 1,826 1,239 460 453 1,177
Gosport Ferry ( PHFC ) 1,013 1,032 1,028 1,216 1,071
Underlying Operating Profit 3,937 3,755 3,307 2,805 3,633
Operating Profit Margin 10.3% 9.7% 8.5% 6.9% 8.3%
Share of Joint Venture Results 36 180 200 24 18
Net Financing Costs (326) (376) (429) (433) (416)
Underlying Pre-Tax Profit 3,647 3,559 3,078 2,396 3,235
Gain on sale of FOGL shares - 711 388 - -
Amortisation of intangibles (307) (142) (136) (136) -
Other Non-trading items ( share issue costs , restructuring ) 64 (234) (531) (373) 61
Profit Before Tax 3,404 3,894 2,799 1,887 3,296
Taxation Charge (771) (750) (577) (460) (779)
22.6% 19.3% 20.6% 24.4% 23.6%
Net Profit After Tax 2,633 3,144 2,222 1,427 2,517
Weighted Avg. Number of Shares in Issue 12,461 12,446 12,384 12,430 12,525
Diluted EPS on Underlying PAT 22.0p 22.0p 19.2p 15.3p 19.7p

Balance Sheet Details

  31 March
2014
£'000
31 March
2015
£'000
31 March
2016
£'000
31 March
2017
£'000
31 March
2018
£'000
Net Assets / Shareholders' Funds 35,377 36,688 38,569 39,745 41,733
Cash 5,715 7,435 14,037 15,079 17,018
Bank Borrowings (1,019) (735) (3,264) (3,828) (3,329)
Net Cash / Bank Borrowings 4,696 6,700 10,773 11,251 13,689

Consolidated Cash Flow Statement

  2014
£'000
2015
£'000
2016
£'000
2017
£'000
2018
£'000
Profit Before Tax 3,404 3,894 2,799 1,887 3,296
Add back:
Depreciation 1,233 1,426 1,459 1,451 1,692
Amortisation 307 142 136 136 -
Share of Joint venture profits (36) (180) 130 (105) (18)
Net interest 326 370 420 433 416
Less gain on FOGL share sale - (711) (388) - -
Takeover bid & defence costs charge - - - 530 -
Share option charge 43 90 61 15 37
Increase in hire purchase debtors (238) (260) (460) 3 128
Other cash flows, including open offer and pension transfers (23) - (49) (76) (59)
Working capital movement (1,554) 2,260 622 (988) (473)
Cash flow from operations, before tax, interest and dividends 3,462 7,031 4,730 3,286 5,019
- - - - -
Cash flow from operations, before tax, interest and dividends
Falklands Islands Company (322) 3,572 2,674 2,099 997
Momart 2,258 2,210 692 (520) 2,681
Gosport Ferry (PHFC) 1,471 1,481 1,367 1,657 1,671
Unallocated 55 (232) (3) 50 (330)
Cash flow from operations, before tax, interest and dividends 3,462 7,031 4,730 3,286 5,019
Capital Expenditure
Falklands Islands Company (2,715) (2,598) (1,229) (578) (389)
Momart (301) (648) (402) (971) (186)
Gosport Ferry (PHFC) (1,958) (1,483) (223) (241) (228)
Total Capital Expenditure (4,974) (4,729) (1,854) (1,790) (803)
Taxes paid (780) (792) (324) (336) (475)
Cash flows on sale and purchase of FOGL shares - 2,287 1,396 - -
Proceeds from fixed asset disposals 21 86 141 76 61
Net interest (paid)/received 60 (2) (90) (105) (112)
Bank loan & Hire purchase repayments, net of drawdowns (1,396) (558) 2,288 199 (806)
Cash flows payments to pensioners and pension scheme transfers (76) (115) (115) (113) (102)
Investment in, and loans to joint venture (529) 151 378 200 24
Other, including Treasury share cash flows (66) (215) 52 (375) (184)
Dividends paid (1,423) (1,424) - - (683)
Other Cash Flows (4,189) (582) 3,726 (454) (2,277)
Net Cash Flow (5,701) 1,720 6,602 1,042 1,939
Opening Cash 11,416 5,715 7,435 14,037 15,079
Closing Cash and Cash Equivalents 5,715 7,435 14,037 15,079 17,018
Total net cash / debt
Cash and Cash Equivalents 5,715 7,435 14,037 15,079 17,018
Bank Debt (1,019) (735) (3,264) (3,828) (3,329)
Total net bank debt / cash 4,696 6,700 10,773 11,251 13,689

Operating Companies