Fijian Holdings Group has recorded a 29 per cent growth in profit after tax for the nine months ending 31 March 2017.

The  Group’s  pre-tax  profit  for  nine  months  stood  at  $18.6m compared to the $15.9m achieved in the same period  last year.

In making the announcement, FHL Group chairman, Adrian Sofield, says that Group Companies are continuing with strong performance as reported last financial year. The companies have performed well due to positive economic outlook.

He further added the group performance was on track to meet the budgeted target for the financial year 2016/2017. Group revenue has increased by 2 per cent compared to March 2016 results.

The overall Group position is in line with budgets for the 2017 financial year and expectations are high to meet the closing targets set for the current Financial year.

The major revenue contribution came from Basic Industries and Pacific Cement with the high demand of construction material experienced over the last quarter.

As at 31 March 2017, Group assets stands at $502m while shareholders’ funds have reached $233m.

Feedback: ivamere.nataro@fijisun.com.fj