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Falkland Islands FY14 Profit Rises; Maintains Dividend - Quick Facts

Falkland Islands Holdings Plc (FKL.L), which owns essential services businesses in the Falkland Islands and the UK, Monday announced that its fiscal 2014 pre-tax profit increased to 3.40 million pounds from last year's 2.80 million pounds.

Earnings per share was 21.1 pence, higher than 13.7 pence a year ago.

Underlying pre-tax profit, which excluded items, grew 10.8 percent to 3.65 million pounds from 3.29 million pounds in the prior year. Underlying earnings per share was 22 pence, compared to 21.3 pence a year ago.

Group revenue increased 7.5 percent to 38.3 million pounds from 35.6 million pounds last year.

Further, the company said its Board is recommending a maintained final dividend of 7.5 pence per share, which makes a total dividend of 11.5 pence per share, same as last year.

David Hudd, Chairman of FIH, said, "We remain focussed on modernising the business in readiness for the expected increase in economic activity as the next round of drilling approaches. We continue to believe that our wide spread of businesses in the Falklands offers an outstanding business opportunity there."

The company said its trading performance in the year to date is in line with expectations and that it anticipates a satisfactory year. Looking further ahead, the company continues to believe that it has an outstanding business opportunity in the Falkland Islands.

by RTT Staff Writer

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