SUNBIZ

RB Patel Group Records $6.58m Pre-tax Profit

The RB Patel Group has reported $6.58 million as operating profit before tax expense for the financial year ended June 30, 2015. This was an increase of 11.2 per cent
01 Aug 2015 11:04
RB Patel Group Records $6.58m Pre-tax Profit

The RB Patel Group has reported $6.58 million as operating profit before tax expense for the financial year ended June 30, 2015.

This was an increase of 11.2 per cent when compared to the previous year’s results of $5.91 million.

The company’s revenue including other income increased to $107.45 million from $103.7 million the past year, an increase of 3.6 per cent.

Chairman, Iowane Naiveli, said: “The results are very pleasing and company’s performance reflects the improving economic and financial conditions both locally and globally.”

Profit after tax remained almost the same and was due to changes in tax rates and the resulting reduction of deferred tax liabilities.

“The company’s performance is also underpinned by the competitive nature of the industry and the price driven strategies experienced throughout the year,” Mr Naiveli said.

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

 

Interim dividend

The RB Patel Group Limited board has announced a final interim dividend of 10 cents per share to be paid on August 27.

This will bring the total dividends paid for the year to 14 cents per share.

Mr Naiveli emphasised this will be the eighth consecutive year the company has maintained its dividend at 14 cents per share.

Feedback: rachnal@fijisun.com.fj

 

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