James Fisher says FY expectations are unchanged

James Fisher says FY expectations are unchanged

James Fisher International (FIH) has announced its audited results for the year ended 31 March 2025, revealing a challenging financial performance marked by significant revenue reductions and underlying losses. The company, which operates in the Falkland Islands and the UK, reported a total revenue of £40.9 million, down from £52.5 million in the previous year. The majority of this reduction was attributed to the construction division of the Falkland Islands Company (FIC), where work was severely disrupted [1].

The underlying pre-tax loss for the year was £6.2 million, compared to a profit of £3.4 million in the prior year. Including non-trading items, the reported pre-tax loss was £6.6 million. The Group's cash balance stood at £7.8 million, down from £9.6 million in the previous year. The underlying loss per share was 41.0p, compared to 19.4p in the prior year [1].

Chief Executive Stuart Munro attributed the poor performance to disruptions in the construction division of FIC, noting that the challenges continued to adversely impact results in the second half of the year. However, he also highlighted that the Group has secured additional management resources to address these issues and drive a program of improvement across all areas of the business [1].

Despite the challenging year, the Group proposed a final dividend of 5.5 pence per share at the forthcoming Annual General Meeting, taking the total regular dividend for the year to 6.75 pence per share. This dividend remains unchanged from the previous year [1].

Looking ahead, the Group is focused on strengthening its foundations and pursuing targeted strategic initiatives that support sustainable growth and value creation. The market remains difficult for Momart, but the Group is addressing this through a continued focus on client relationships, process efficiency, and cost management. At Portsmouth Harbour Ferry, passenger numbers were slightly reduced but were mitigated by a combination of fare pricing, cost management, and maximization of secondary revenues [1].

References:
[1] https://www.investegate.co.uk/announcement/rns/fih-group--fih/final-results/8999719