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CFL Closes One Company, Profits With Others

Communications Fiji Limited (CFL) closed one of its businesses following the impact of COVID-19. CFL CinemaADs collapsed because of the nature of clientele it attracted, CFL’s 2020 annual report said.
04 May 2021 11:47
CFL Closes One Company, Profits With Others
Communications Fiji Limited’s chairman, William Parkinson and Communications Fiji Limited’s general manager, Charles Taylor.

Communications Fiji Limited (CFL) closed one of its businesses following the impact of COVID-19.

CFL CinemaADs collapsed because of the nature of clientele it attracted, CFL’s 2020 annual report said.

However, the Group made an after tax profit of a little over $824,000 for the 2020 financial year.

Communications Fiji Limited operates in Fiji and Papua New Guinea with successful radio and website networks, event management companies, property investment, and an agency business.

CFL’s website Fijivillage, and The Magic Factory, the company’s creative arm, reported a steady rise in income, said chairman, William Parkinson.

The Magic Factory is CFL’s newest member of the family.

CFL entered COVID-19 with healthy balance sheets, no debt, and reasonable cash reserves, Mr Parkinson said.

Its staff did well to secure new sources of income from aid agency and non government organisations, he said.

A divident payout of four cents was issued earlier on the condition that staff welfare would not be affected, Mr Parkinson said.

Staff come first

As a talent driven business, staff come first at CFL, he said.

“In the spirit of “never wasting a crisis”, once the immediate lockdowns were complete, we continued the work, that started last year, of strengthening policies and management systems,” Mr Parkinson said.

The work involved raising the standard that would be the envy of larger organisations, and providing a solid foundation for future growth,he said.

After a delay caused by various lockdowns, CFL was able to finally get Charles Taylor back to Fiji to take up his position of general manager.

“This meant Rosemarie Botong was able to step into the position of general manager PNG FM,” Mr Parkinson said.

“It was a big moment for CFL, both having started off as part time announcers and worked their way up through the organisation.

“All of this meant that I was able to complete the transition process, which began a number of years ago, from managing director to chairman, no longer active in the day-to-day operations.”

Where to now?

“We enter 2021 in an even stronger position than we began,” Mr Parkinson said.

“We continue to deliver strong cash positive operational results holding good reserves in both countries.

“Keeping an eye to the future, we are in the process of acquiring a block of land in Port Moresby.

“This has been a longtime goal and required considerable patience, as land, particularly in the areas we require, is not normally available.

“Fortunately, the current crisis presented us with an opportunity, and we were able to exploit it.”

New home

CFL plans to develop its own home, in Port Moresby following the successful Suva model of 231 Holdings Pte Limited, Mr Parkinson said.

“I am confident that the Communications Fiji Ltd group will emerge from this current crisis, as it has done so many times before over the last 35 years, stronger and ready to take on the future.”

Feedback: frederica.elbourne@fijisun.com.fj



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