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Fijian Holdings Positive Despite $469K Fiji TV Loss

  The owners of Fiji Television Limited, Fijian Holdings Limited (FHL) are still positive despite the company’s $469,000 loss recorded in the last six months. This was the comment made
01 Feb 2017 14:30
Fijian Holdings Positive Despite $469K Fiji TV Loss
FHL Group CEO, Nouzab Fareed.

 

The owners of Fiji Television Limited, Fijian Holdings Limited (FHL) are still positive despite the company’s $469,000 loss recorded in the last six months.

This was the comment made by the Fijian Holdings Group chief executive Nouzab Fareed.

“We are very positive, confident and we know the company will turn around in the next twelve months,” Mr Fareed said.

The unaudited financial results saw Fiji Television Limited recording revenue of $4.3 million, a decrease of 15% compared to the same period last year.

Mr Fareed said the loss was due to Cyclone Winston.

“As a result of Cyclone Winston, there was a disruption in our towers in Ba and Tavua,” he said.

“Our major clients discontinued their sponsorship and advertising as well.”

He said: “We are talking to some companies to share their towers with us because we also share our towers with these companies.”

Mr Fareed also said FHL was confident on the company’s performance in months ahead.

“Karen Lobendhan is our new chief executive officer and we believe that she will change things around.

“We will be coming to a solution to this soon so that our advertising sales can pick up again.”

Ms Lobendhan will assume the role of acting chief executive officer for Fiji Television Limited from today.

She said: “We are a very strongs team who have the capability of delivering the necessary reforms required to make urgent changes.”

Mr Fareed also mentioned that sale of Fiji Television Limited was not an option.

Feedback:  kathrin.krishna@fijisun.com.fj



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