Business

RB Releases Financial

SOUTH PACIFIC STOCK EXCHANGE sUVA RB Patel Group Limited has announced that its board has declared a Final Interim Dividend of 10 cents per share to be paid on September
06 Aug 2014 07:36

SOUTH PACIFIC STOCK EXCHANGE
sUVA

RB Patel Group Limited has announced that its board has declared a Final Interim Dividend of 10 cents per share to be paid on September 2.
This will bring the total dividends paid for the year to 14 cents per share.
Company chairman, Padam Lala emphasised that this would be the seventh consecutive year the company has maintained its dividend at 14 cents per share.
The company also released its audited fully-year financial statements to June 30 2014.
The company’s revenue including other income increased to $103,706,632 from $102,228,943 the past year, representing an increase of 1.4 per cent.
Profit after income tax expense for the current year is $5,927,552 compared to $5,338,685, representing an increase of 11 per cent.
Profit before tax however decreased from $6,364,222 the past year to $5,919,126 this year.
Making the announcements yesterday, Mr Lalal said: “The results are as expected given the local and global economic and financial conditions.
“The company’s performance reflects the competitive nature of the industry and the price driven strategies that the industry has experienced throughout the year,” he added.
“The restriction on margins imposed by the Fiji Commerce Commission on some high volume items continues to provide challenges for businesses in maintaining profitability.
Feedback: rachnal@fijisun.com.fj




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