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Falkland Islands Sees FY Underlying Group Pre-tax Profit Of About £3 Mln

Falkland Islands Holdings Plc or "FIH" (FKL.L), in its pre-close trading update, reported that the Group's full-year trading performance was in line with market view, and expects underlying Group pre-tax profits before amortisation and non trading items of about 3 million pounds for the year ended March 31, 2013.

Further, the board anticipates that the total dividend payment would not be less than 11 pence per share.

FIH's Chairman, David Hudd, commented: "2012/13 was a particularly significant year for the Group, as we raised an additional £10 million of equity funds which will enable us to participate in the opportunities now emerging in the Falkland Islands. We expect that there will be a quantum leap in the economy over the next decade and momentum is expected to build in 2014 as the development of Sea Lion commences. However in the short term conditions are expected to be quieter in the absence of drilling activity which has been a factor since 2010."

by RTTNews Staff Writer

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