Beverage company grows members’ equity
3 April, 2018, 12:00 am
PARADISE Beverages (Fiji) Ltd (PBF) and its subsidiary reported a net profit after tax of $14,738,022 in its audited accounts for the year ended December 31, 2017 released on Friday.
This represented an increase of more than nine per cent against the profit after tax for 2016 of $13,492,309.
This increase can be attributed in part to the increase in sales revenue from $97.6 million (2016) to $98.2m in 2017 coupled with a drop in the cost of sales from $62.8m in 2016 to $61.8m in 2017.
Also an increase of $509,490 in other operating revenue further added to the increase.
The basic earnings per share as expected increased from $1.30 (2016) to $1.42 in 2017.
Meanwhile, the company� net assets increased from $118.5m in 2016 to $129.9m in 2017 which showed that the company had grown by about 10 per cent or $11.4m.
This meant that the equity attributable to members of the company had grown by this amount.