AGM Statement

27 September 2024

FIH group plc

("FIH" or "the Group")

AGM Statement

FIH group plc, the AIM quoted international specialist services group with businesses in the Falkland Islands and UK, is holding its Annual General Meeting ("AGM") today.

At the meeting, the Chairman, Nick Henry, will make the following statement:

"On behalf of the board, I am delighted to welcome shareholders to the FIH Group AGM.

Performance for the Year Ended 31 March 2024

We were pleased to report on a year in which we generated an underlying pre-tax profit of £3.4 million compared to £3.2 million in the prior year.

Despite facing a complex and challenging global environment, a continued operational focus, together with the inherent resilience of our diversified business model, has sustained performance and ensured the delivery of value to both shareholders and stakeholders.

Following the payment of an interim dividend of 1.25 pence per share in January 2024 and reflecting the increased profit in the second half of the year, a final dividend of 5.5 pence per share is proposed. This would take the total regular dividend for the year ended 31 March 2024 to 6.75 pence per share (2023: 6.5 pence per share).

In addition, the Directors are also proposing a special dividend of 10 pence per share, to be paid together with the final dividend, to maintain an appropriate balance between cash returns to shareholders and investment in the business.

Together with the interim dividend, the proposed final dividend and the special dividend, the total dividend for the year ended 31 March 2024 would be 16.75 pence per share (2023: 6.5 pence).

Post Year End Performance

Passenger numbers and performance at Portsmouth Harbour Ferry Company in the period from 1 April 2024 to 31 August 2024 were broadly in line with the prior year.

At Momart, trading activity has also tracked the prior year, albeit with a small increase in Museum Exhibitions offsetting a slight reduction in Gallery Services. Overall, this is behind internal plans but reflects the continuing challenges brought about by the current global economic situation. The strong order book in Museum Exhibitions, coupled with a series of proactive business development initiatives, should improve the position over the remainder of the year.

The Falkland Islands Company ("FIC") had a difficult start to the current financial year, driven mainly by the continuing slippage of construction tender awards, as noted in the trading statement issued on 30 July 2024. In addition, the departure of the FIC Managing Director and the Falkland Building Services management team earlier this year, and the delay in their replacement, given the challenge of doing so in a remote location, is now also starting to adversely impact trading. The process to secure permanent replacements is progressing and in the meantime, support is being provided to FIC through a combination of assistance from Group and the use of interim resource.

Outlook

The Group is currently navigating a challenging period, particularly in the Falkland Islands. However, the  longer-term trading outlook remains positive."

Enquiries:

Market Abuse Regulation (MAR) Disclosure

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

The person responsible for arranging the release of this announcement on behalf of the Company is Stuart Munro Chief Executive Officer of the Company.