SUNBIZ

FHL Becomes First Listed Firm To Audit Half Yearly Results

Fijian Holdings Limited (FHL) has become the first listed company on the South Pacific Stock Exchange to release its half yearly financials with an audit opinion. This is after FHL
22 Feb 2015 09:36
FHL Becomes First Listed Firm To Audit Half Yearly Results
FHL Group chief executive, Nouzab Fareed.

Fijian Holdings Limited (FHL) has become the first listed company on the South Pacific Stock Exchange to release its half yearly financials with an audit opinion.

This is after FHL released its consolidated half year financial statements for six months ended December 31, 2014 which were subject to an audit review by auditors, KPMG.

The group recorded a pre-tax profit of $15 million for the six months period compared to $6.9 million recorded the previous corresponding year. This was a 117 per cent increase.

Consolidated group revenue for the first six months of the current financial year increased by two per cent to $145 million compared to $142 million the same period last financial year.

FHL Group chairman, Iowane Naiveli, said: “The results were quite pleasing as it was achieved under a challenging economic environment.

“We are optimistic the momentum will be continued in the next six months and the FHL Group will aim to maintain positive results for the 2015 financial year.”

RB Patel Group continued to be the highest revenue contributor followed by a turned around performance of Basic Industries (Fiji) Limited.

Steady revenue contribution were also received from Merchant Finance Limited, Pacific Cement Limited, FHL Properties Limited and FHL Fund Management Limited.

Group chief executive, Nouzab Fareed, said: “While being positive with the results, we continue to focus our energy to revitalise Fiji TV and PNG operations.

“We could have done much better if not for Fiji TV and PNG operations. This is mainly because the whole group is doing very well.”

Mr Fareed said they anticipate the next 12 months will be much better especially given that the cinema operations is doing extremely well.

“Our focus will continue with exposure to entertainment industry. We will also continue to explore the energy portfolio.”

Feedback:  rachnal@fijisun.com.fj

 



Got A News Tip


Get updates from the Fiji Sun, handpicked and delivered to your inbox.


By entering your email address you're giving us permission to send you news and offers. You can opt-out at any time.


Subscribe-to-Newspaper