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Group's positive performance pleases management

Luke Rawalai
Monday, August 11, 2014

FIJIAN Holdings Ltd expects to rake in revenue of about $300million by the end of its financial period next year.

This was revealed by the company's chief executive officer, Nouzab Fareed, in an interview adding the company had done extremely well during the past few months.

Mr Fareed said last year the company managed to collect revenue of about $290m.

He added the company's current asset values stood at $100m.

"We have been doing extremely well during the past few months and we're forecasting to achieve a total revenue of $300m but this is yet to be confirmed," he said.

"We are expected to officially release the results of our performance during the last financial year on August.

"At this point in time all I can say is that FHL and its group of companies are doing well."

Mr Fareed said RB Patel, Merchant Finance, Basic Industries, Fiji Industries and South Sea Cruises were performing well.

"However we have had to shift our focus on Fiji TV and our Papua New Guinea group of companies which we had issues with in the last 12 months," he said.

"Other than these two companies we are doing quite well. Our only concern this year was the performance of our PNG subsidiary, Pacific Holdings Ltd."

Mr Fareed also said Labasa would be included in the company's 30th anniversary event this year.

"We will hold these celebrations with a series of roadshows in Labasa on October before moving to Lautoka, Suva Nausori and Nadi too," he said.

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