FHL records $311m in revenue in 2018 fiscal year

FIJIAN Holdings Ltd Group recorded a 2.3 per cent increase in its revenue for its financial year this year when compared with the same period last year, finishing at $311million.

Group chairperson Adrian Sofield, in his chairman’s report in the 2018 Annual Report, said the FHL Group had been resilient to the changing business environment over the years, delivering quality products and service to its customers and maximising returns to its shareholders.

Mr Sofield said their net profit also increased as a result of increased sales, finishing the year at $35m compared with $31m in 2017.

He said there was 2 per cent growth in profit after tax for the holding company while the group profits grew by 15 per cent.

“FHL group and the holding company embraces a very strong financial position, recording total assets of $340m for the holding company while the group recorded total assets of $572m compared with $525m in 2017.

“The group believes in profit with a purpose, engaging all of our stakeholders in ensuring we work as a family to achieve the required returns.”

In terms of dividends, Mr Sofield said in recognition of the shareholders who were the ultimate owners of the company, the board continued to increase the dividend as the overall performance of the group continued to grow.

He also announced an increase in dividends from 24.1 cents in FY17 to 24.4 cents in FY18.

“FHL Group has paid approximately $27m to the Government in taxes during the financial year.

“The share price of FHL continues to rise giving a larger capital appreciation to the shareholders. At the time of this report, it was recorded at $6.00.”

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