Fewer cruise ships and less oil-drilling activity will mean a drop in profits from £3.2 million to about £3 million in the year just ended, the Falkland Islands Company said today.
The firm, which runs shops, construction and transport services on the islands, said it still believes “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 [oilfield] commences”.
It said tourist activity was down last year after Argentina pressured cruise ships against stopping at the Falklands, but the situation has returned to normal.
Momart, its fine art shipping business, had a strong year which included Manet at the Royal Academy, Pompeii and Herculaneum at the British Museum, Schwitters at Tate Britain and David Bowie at the V&A.
The dividend is maintained at 11p a share.
