SUNBIZ

Fijian Holdings Group Records 30% Growth

Fijian Holdings Group has recorded a 30 per cent growth for the six months ending December 31, 2015. Group pre-tax profits for the six months stood at $18.73 million compared
02 Feb 2016 09:48
Fijian Holdings Group Records 30% Growth
FHL

Fijian Holdings Group has recorded a 30 per cent growth for the six months ending December 31, 2015.

Group pre-tax profits for the six months stood at $18.73 million compared to $14.40 million achieved in the same period in the previous year.

FHL Group chairman, Iowane Naiveli, said the Group companies have exceeded expectation mainly due to a positive economic outlook.

He further added the trend would continue for the next 12 to 24 months.

Group revenue reached $154.8 million for the said six months compared to the previous period where revenue recorded was $134.4 million.

Post-tax profit amounted to $10 million, reflecting an increase of 20 per cent.

Group chief executive, Nouzab Fareed said the growth is propelled by infrastructure and tourism sector whereas the rest of the sectors continued with marginal growth.

He added further that the group revenue increase is largely attributable to the performance of Basic Industries Limited, South Sea Cruises Limited, Pacific Cement Limited and RB Patel Group.

The new company in the Group, Life Cinema Limited also exceeded expectations.

As at December 31, 2015, Group assets stands at $477 million while the shareholders funds have reached $214 million.

Fiji Sun Instagram
Fiji Plus
Subscribe-to-Newspaper
error: