Whiteside: KFL Stamps Position As Market Leader Through Another Strong Quarter
"Interest income rose by 29 per cent to $ll.7m, while net interest income experienced a 42 per cent growth to S9.8m, both compared to the same period last year,'' Mr Whiteside.
Monday 28 October 2024 | 16:22
Kontiki Finance Limited's chairman Barry Whiteside said there was optimism for more economic growth.
A locally-owned credit institution has reported another strong quarter. Kontiki Finance Limited is also optimistic about continued growth as the economy strengthens, says chairman Barry Whiteside.
"We are pleased to report another strong quarter of growth, with our interest income and net interest income both showing substantial increases,'' he said.
"This performance reinforces KFL's position as a leader in the market, and we remain optimistic about continued growth as the Fijian economy strengthens."
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The strong performance was based on profit retention, an increase in interest on income and an upward trend in financial assets.
"Interest income rose by 29 per cent to $ll.7m, while net interest income experienced a 42 per cent growth to S9.8m, both compared to the same period last year,'' Mr Whiteside.
"Retained profit also rose by 10 per cent, reaching $28.7 million, while comprehensive income grew by four per cent to S2.7m."
Kontiki's financial assets creased from S75m to 8lm, with assets under management now exceeding $300m.
Total shareholders' funds grew by seven per cent to settle at S44.3m, compared to S41.3m last year.
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