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RB Patel Group Half Year Profits Up 12.5%

RB Patel Group Limited has posted a 12.5 per cent increase in profits for its half year financial period ending December 31, 2014. Profit after income tax expense for the
30 Jan 2015 11:08
RB Patel Group Half Year Profits Up 12.5%
fijisun.com.fj

RB Patel Group Limited has posted a 12.5 per cent increase in profits for its half year financial period ending December 31, 2014.

Profit after income tax expense for the current year is $2.89 million compared to last year’s result of $2.57.

The company’s revenue including other income increased to $55,222,279 from $54,224,959 last year, an increase of almost two per cent.

Newly-appointed chairman, Iowane Naiveli, said: “The results are pleasing given the local and global economic and financial conditions.

“The company’s performance should also be viewed against the backdrop of the competitive nature of the industry and its most price driven strategies.

“The restriction on margins imposed by the Fiji Commerce Commission on some high volume items continues to provide challenges for affected businesses in maintaining profitability.”

The company also announced that its board had declared an Interim Dividend of 4 cents per share to be paid February 25.

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