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Thursday 02nd of October 2014
24/6/2010

Falkland Islands results beat expectations

Story link: Falkland Islands results beat expectations by Kay Murchie
Falkland Islands results beat expectations

Falkland Islands Holdings has exceeded analysts expectations by posting a 17% increase in full-year underlying profits to £2.7 million compared with £2.3 million a year earlier.

Revenue for the year was £29.22 million against £32.25 million a year ago.

The company has an 8.2% stake in explorer Falklands Oil and Gas, which is currently drilling alongside Rockhopper, Desire Petroleum and Borders & Southern in the Falkland Islands.

The return of oil drilling to the disputed islands boosted its business, said the company.

However, the exploration programme recently triggered renewed diplomatic tension between the UK and Argentina, bringing to the surface bad memories of the war over the islands in 1982.

 

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