Samiksha Jaiswal (Editor)

Falkland Islands Company

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Industry
  
Diversified

Operating income
  
£217,000 (2014)

Headquarters
  
Stanley

Founded
  
1851

Total assets
  
21.37 million GBP (2014)

Parent organization
  
FIH group plc

Area served
  
Falkland Islands

Net income
  
£197,000 (2014)

Revenue
  
15.24 million GBP (2014)

Number of employees
  
220

Total equity
  
4.882 million GBP (2014)

Falkland Islands Company httpsuploadwikimediaorgwikipediacommonsthu

Type
  
Private limited company

Key people
  
Kevin Ironside (COO) John Foster (CEO) Graham McManus (Finance and Commercial Director) Dick Sawle (Non-Exec. Director)

The Falkland Islands Company Ltd. (FIC) was founded in 1851 and was granted a Royal Charter to Trade in 1852 by Queen Victoria. It is known locally as The Company or FIC is a diversified goods and services company owned by FIH group plc.

Contents

Businesses

Retail & Distribution

  • The West Store Complex:
  • The West Store Supermarket, featuring supplies from Waitrose, Tesco and Iceland
  • The Capstan Gift Shop
  • Clothing Department
  • Electrical Store
  • Crozier Place:
  • Home Builder, DIY and Builders Merchant
  • Home Living, selling home improvements
  • The West Store at RAF Mount Pleasant
  • Cafés within West Store Stanley, West Store Mount Pleasant and Crozier Place
  • FIC Warehouse, wholesale sales with chilled & frozen storage

    • Automotive

  • Falklands 4x4 is a Land Rover dealership, a JCB agency, Castrol Oil's agency and boat maintenance service
  • Largest hire and lease fleet on the islands

    • Property

  • SAtCO (South Atlantic Construction company) is a joint venture company with Trant Engineering, established in June 2012 and provides construction solutions for large scale building, civil and engineering projects across the Falklands.
  • The FIC owns 50 residential and commercial properties for let, as well as 400 acres of prime land, much with planning permission.

    • Insurance

  • Caribbean Alliance Insurance Company agent, provides a range of insurance services, including motor, buildings, public liability and contract risk for buildings under construction.
  • Lloyd's Agents for the Falkland Islands dealing with cargo surveys and other reporting.

    • Building and Electrical

  • Falklands Building Services and Falklands Electrical Services, providing new home builds

    • Penguin Travel

  • Coach and mini bus provider for local airport transfers, connections and tours

    • Agency

  • Fishing Agency acting as agent for over 100 fishing vessels and for cruise ships belonging to Holland America and Princess Lines

    • Flights

  • Agent for The MOD Airbridge Service for Air Tanker flights between RAF Brize Norton, Oxfordshire and Mount Pleasant Base, Falklands

    • Falklands Removal Services Agent for both Whites and Crown Removals with worldwide connections available

    Falklands Shipping Shipping product between The UK and The Falklands on The MOD FIRS vessels Southwards and wool shipments Northwards

    History

    1851

    The Falkland Islands Company (FIC) was incorporated in 1851 and received its Royal Charter on 10 January 1852. Established with an authorised capital of £100,000 its purpose was to engage in agricultural and general trading activities including establishing a shipping link with the UK.

    1888

    FIC purchased J M Dean & Sons for shares. J M Dean acted as agent for farmers, and operated the West Store in the capital Stanley. The company was also a Lloyds Agent and owned a hotel and other property assets in the Islands.

    1913

    Regular shipping service commenced to Montevideo.

    to 1945

    FIC continued to acquire farm property in the Falklands with the result that the total agricultural land holdings reaches 1.2m acres with some 300,000 sheep.

    1962

    FIC shares listed on The London Stock Exchange.

    1972

    FIC acquired by The Dundee Perth and London Shipping Company Limited which is itself purchased by Coalite Group PLC.

    1982

    Argentina invades the Falkland Islands and occupies the islands for 74 days.

    1986

    Falklands Conservation Zone established and offshore fishing becomes the most important source of revenue for the Government.

    1989

    FIC's owners, Coalite acquired by Anglo United plc in a leveraged buy out.

    1991

    FIC's agricultural land holdings sold to the Falkland Islands Government following the Shackleton report.

    1997

    Anglo United which has an unsustainable amount of debt undergoes a capital reconstruction and distributes shares in Falkland Islands Holdings plc to its shareholders. For every 300 Anglo United shares shareholders receive 1 share in Falkland Islands Holdings. At this point the Falkland Islands Company became a full subsidiary of Falkland Islands Holdings, name changed to FIH Group plc in September 2016.

    References

    Falkland Islands Company Wikipedia
    (Text) CC BY-SA