Performance improves

THE Fijian Holdings Ltd Group has continued to improve its performance over the past five years after recording a net profit after tax of $31.1 million for the year ended June 30, 2017 which was more than double its profits achieved in 2013 of $12.7m.

This was revealed in the South Pacific Stock Exchange’s (SPSE) insight article on the FHL Group for this week issued on Monday.

FHL’s continued improvement came on the back of increased operating revenue for the financial years 2013 of $217.2m to $297.4m achieved during 2017.

And based on increasing revenue achieved, the group’s total assets grew from $475.8m in 2013 to $525.1m in 2017 after experiencing declines in 2014 ($458.9m) and 2015 (459.3m).

Similarly the total shareholders’ equity increased from $202.4m to $250.4m during the years under review after experiencing a slight drop to $200.1m in 2014.

The group’s continued improvement allowed it to pay increasing dividends to its members during the years under review from $0.21 in 2013 to $0.243 in 2017 and its share price on the SPSE has steadily increased from $3.10 per share in June 2013 to its highest ever recorded share price of $5.00 per share as at 31 October, 2017.

In FHL Groups Annual Report for 2017 group CEO Nouzab Fareed said: “Today, with the power to transform itself, FHL is uniquely positioned to benefit from its long-term value creation, establishing itself as one of the most reliable entities in a rapidly changing market environment.”

He said when the company had commenced business in 1984, the shareholders had only $1.14m.

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