FIH Group profits boosted by improved margins

Specialist services outfit FIH Group expects pre-tax profits for its last trading year to have topped market expectations.

FIH told investors on Wednesday that margins at its Momart subsidiary had continued to improve during the year and noted that a provision for a potential claim, made in its March 2018 accounts, could now be released.

The board of the AIM-listed group now expects that, subject to the completion of the audit, it will be able to deliver a pre-tax profit that will "exceed market expectations by a comfortable margin".

Its fully-audited annual report and accounts are scheduld to be published in mid-June.

As of 0850 BST, FIH shares had shot up 13.07% to 320p.