Sigatoka-based company records $795k profit

Palm furniture made by Pacific Green. Picture: FILE

Sigatoka-based Pacific Green has reported a profit of $795,691 for the 2022 financial year compared with a profit of $381,766 from the same period last year.

The company recorded total revenue of $4.8 million in 2022.

“These strong results were due to reduced operating costs through more efficient production processes and better inventory management, timely project delivery and capital discipline,” said acting chairman of the company Ravin Chandra.

“Whilst we have managed cost very well to bring down the operational cost adding to the bottom line, we also need to be prudent in how we manage finance moving forward.

“While we continue to face a highly uncertain economic and geopolitical environment, we believe that our company is well positioned to weather any further disruptions.

“We need to sustain it by focusing on improving operational performance, as well as capitalising on our core strength – the strong Pacific Green Brand and through compelling customer offers.

“There is much for us to do, but together, the board and management are confident that, becoming less complex and more agile, Pacific Green will overcome the continued economic challenges ahead.

“It should be noted that these are critical times for all retailers, as consumer confidence is in decline due to high inflation, forcing customers to spend less on luxury items.”

More Stories