THE RB Patel Group (RBG) will continue to look for growth opportunities despite "growing concerns about the increased cost of doing business and price controls".
Group chairman Padam Lala made the comment in the company's 2012 annual report adding the management team would remain focused on cost containment.
"All costs are regularly reviewed and re-evaluated against the core business processes to ensure cost effectiveness," Mr Lala said.
The chairman said the financial year ending June 30, 2012 was a very challenging year and that the company also felt the effects of the slowdown in the world economy and the increasing costs of doing business.
And although the company saw an increase in its after-tax profit by 5.6 per cent, the operating profit before tax decreased by 9.5 per cent over last year.
"This is due in large part to the pressures of increased costs and the impact of Fiji Commerce Commission determinations restricting margins," Mr Lala said.
The profit after tax for the year was $5.1 million compared to the profit for the previous year of $4.8 million, an increase of 5.6 per cent. Sales for the 12 months to 30 June 2012 were $94 million compared to $93 million last year.
The floods in the first quarter of the year caused some damage with the major floods in March 2012 resulting in an uninsured loss of $362,045.
"The floods caused damage to our stock, plant, furniture and fittings and motor vehicle at the Nadi Town supermarket.
In the report, the company stated that the Waimanu Rd property in Suva was sold during the year and a lease agreement has been entered into as part of the sale arrangements to ensure that their supermarket continued to trade.
"As part of the future growth of the JetPoint complex in Martintar, Nadi a feasibility study was undertaken during the year for the development of a cinema multiplex. At year end negotiations were in progress with third parties to operate and manage the cinemas," the group chairman said.