Free Bird Institute Limited’s (FBL) Board announced that it had declared a final dividend of 5 cents per share to be made out of the net profit after tax for the year ended 31 December, 2016.

The announcement was made yesterday.

This is the first dividend pay-out for all its members since the company was incorporated in 2010.

This is a reflection of the continuous strong growth that the company showed in its unaudited results for the year 2016.

The unaudited figures showed an increase of 171% in its net profit after tax.

The chief executive officer of the company, Waisale Iowane said: “The outstanding underlying results of the 2016 financial year was attributed mostly to the company’s new product integration that it introduced in February 2016.

“The new product was the in-house insurance scheme offered to the international students during their duration of studies in Fiji.”

External factors such as the strengthening of the Japanese Yen against the Fiji Dollar towards the end second half of the financial year saw Fiji as a more affordable and lucrative destination to study in for Japanese students who make up more than 96% of the total school roll.

With the company’s current market price at $2.08 at the date of this announcement, it is invigorating to see the company’s market capitalisation slightly above $4 million taking into consideration that the company has only been listed less than a month on the stock exchange.

source: spse

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