Fiji Time: 7:53 AM on Monday 20 November

Fiji Times Logo

/ Front page / Archives » Article Index

$9.3m profit for 6 months

Manasa Kalouniviti
Thursday, November 09, 2017

VISION Investments Ltd (VIL) recorded a satisfactory performance after posting a net profit after tax of $9,327,056 compared with $9,260,928 achieved during the same period in 2016.

This was achieved on the back of total sales revenue recorded of $83,638,561 (2016 — $82,609,319).

The company released its unaudited operating results for the six-month period ended September 30, 2017 through a market announcement made through the South Pacific Stock Exchange yesterday.

VIL's retained earnings as at September 30, 2017 grew by 69 per cent when compared with the retained earnings level achieved in 2016 and the group's net assets as at the end of the period under review was $78.3 million compared with $70.6m recorded in 2016.

In its market announcement the company reported that its parent company's retail division had shown good consistent growth in revenue and profitability while its automobile division also showed year on year growth in profitabilty.

This contributed to a strong performance by the parent company.

Meanwhile, the company said its PNG subsidiary Vision Homecentres Ltd experienced slow trading because of a subdued economy and the recent national elections and as a result incurred a trading loss, which was included in the group's operating results for the period.

The company is of the general view that the PNG economy would rebound after the national elections and the start of large-scale construction and gas projects which would improve trading conditions.

The company also advised that current year operating results could not be directly compared with previous year's results as shown because this had been prepared on a group basis and consolidates the operating results of the company's PNG subsidiary.

In the light of the half-year operating results the directors had also declared a first interim dividend of $0.04 cents per ordinary share, amounting to a total dividend payment of $4,150,777, for the financial year ending March 31, 2018.

Fiji Times Front Page Thumbnail

Kaila Front Page ThumbnailFiji Times & Kaila Frontpage PDF Downloads

Use the free Acrobat Reader to view.

Code Inward TTs Outward TTs
CAD 0.62050.6015
JPY 55.545452.5454
GBP 0.36760.3596
EUR 0.41340.4014
NZD 0.71590.6829
AUD 0.64370.6187
USD 0.48830.4713



Exchange Rate updated on 17th, November, 2017

Today's Most Read Stories

  1. 'God first'
  2. 'Testament of our defence'
  3. Bati stuns Kiwis and will face Kangaroos
  4. 'We have done it'
  5. Woman's body found in harbour
  6. West primary schools athletics meet finds new sprint king
  7. Nine people evicted in Fiji Bati, Kiwi game
  8. Keeping Fijian spirit alive in cold Germany
  9. FLP's poll promise
  10. Goalkeeper Tamanisau back for Fiji against Estonia

Top Stories this Week

  1. Fiji places second for Miss World 2017 talent Wednesday (15 Nov)
  2. COP23: France invite for Timoci Friday (17 Nov)
  3. Students holiday fares clarified Tuesday (14 Nov)
  4. Where there's a will... Thursday (16 Nov)
  5. Stunningly impressive Tuesday (14 Nov)
  6. Bati-mania Tuesday (14 Nov)
  7. Tighten defence Wednesday (15 Nov)
  8. Walker brothers' radar focuses on Fiji Bati kingpin Friday (17 Nov)
  9. Timoci opens COP23 Thursday (16 Nov)
  10. Arnold pays Fiji a visit Monday (13 Nov)