NATION

Yatu Lau Records $5m Plus Profit

The Yatu Lau Company Limited has recorded a $5.9m net profit for 2014. This was announced by the chairperson of the board and First Lady Adi Koila Nailatikau during the
29 Aug 2015 09:13
Yatu Lau Records $5m Plus Profit
atu Lau Company Limited chairperson and First Lady Adi Koila Nailatikau.

The Yatu Lau Company Limited has recorded a $5.9m net profit for 2014.

This was announced by the chairperson of the board and First Lady Adi Koila Nailatikau during the company annual general meeting on Tuesday at the Studio 6 Apartments, Suva.

Adi Koila said the company’s efforts in the consolidation of its business over the last two years had been successful.

“The company is now poised to move forward with its new strategy for growth and increased profits,” she said.

Company chief executive officer Sialeni Vuetaki acknowledged the blessings of the Lord on the company and indicated the tremendous change to its business culture of the company via the following:

  • Introduction of performance-based renumeration systems.
  • Process re-engineering for all staff teams within the operations of Yatu Lau.
  • Further increasing revenue of the company via rentals increases and cost cutting.
  • Establishment of finance and other operational policies.
  • Training and development of staff.
  • Master Plan for property developments.
  • Joint venture projects with investors, etc.

Mr Vuetaki said the total assets grew by $4.5m to $52.765m with net assets of $29.125m.

“The profit of $5.9m in 2014 compares with $4.3m in 2013.”

Current business opportunities, he said, like joint venture with provincial companies and overseas investors were low costing pursued and Yatu Lau should be growing the business to $100m assets within two years.

The company announced a dividend payment of seven per cent in two tranches for the shareholders.

Feedback: maikab@fijisun.com.fj

 



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