MercoPress. South Atlantic News Agency

FIH Group sells Portsmouth Harbor Ferry Company for £11.6m.

The Portsmouth Harbor Ferry Company (PHFC), which takes passengers between Gosport and Portsea, was bought by the parent company of Collins River Enterprises – trading as Uber Boat by Thames Clippers – from Falkland Islands Holdings Group.

 PHFC and its subsidiaries generated a profit before tax of £530,000 for the year ended 31 March 2025 and had net assets of £2.79m as of 30 September. The selling price of PHFC was £11.6m.

Stuart Munro, chief executive of FIH Group, said: “I am delighted to announce the sale of PHFC.

”This is a positive transaction for the group, delivering cash of circa £11.6m and achieving a 53 per cent increase on the net book value of our investment in the business before transaction costs and corporation tax on the profit on disposal.

“I would also like to take this opportunity to thank the staff and management team at PHFC for their hard work and dedication during the time that the business has been part of the group and to wish them every success for the future under new ownership.

”We're confident we have found a new owner with deep industry experience who will continue to put the customer and team at the heart of decision making.

“The proceeds from the sale are likely to be predominantly utilized for a combination of re-investment within the remaining companies in the group and a return to shareholders.”