SUNBIZ

FHL Group Pre-Tax Profit Reaches 19.9m

Fijian Holdings Group has recorded a 6.8 per cent growth in profit after tax for the nine months ended 31 March 2018. The Group’s pre-tax profit for nine months stood
15 May 2018 10:00
FHL Group Pre-Tax Profit Reaches 19.9m

Fijian Holdings Group has recorded a 6.8 per cent growth in profit after tax for the nine months ended 31 March 2018.

The Group’s pre-tax profit for nine months stood at $19.9million compared to $18.7m achieved in the same period last year.

In making the announcement, FHL Group Chairman Arian Sofield says that Group of Companies are continuing with strong performances as reported last financial year.

Group companies continue to give great performance despite the challenging business environment.

The adverse weather condition in the third quarter of the financial year had some negative effects to tourism and construction businesses; however this was cushioned with the positive performance of other subsidiary companies.

The overall Group position is in line with budgets for the 2018 financial year and expectations are high to meet the closing targets set for current Financial year.

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

FHL Fund Management Limited and FHL Properties Ltd also contributed significantly for this quarter’s revenue.

As at March 31, 2018, Group assests stands at $537m while shareholders’ funds has reached $269m.

 

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