FHL Assets Exceed $500 million

Oct. 3, 2017, 6:02 a.m.

FHL Assets Exceed $500 million

Fijian Holdings Limited assets have exceeded $500 million, with a 29 percent growth recorded in profit after tax for the nine months ending March 31.

The group’s subsidiary sectors span property, retail, manufacturing, tourism, media, the financial sector and building & construction, and it confirmed that its pre-tax profit for nine months stood at $18.6 million, compared to $15.9 million for the same period last year.

FHL Group chairman, Adrian Sofield  said the group performance was on track to meet the budgeted target for the financial year 2016/2017.

“Group revenue has increased by two per cent, compared to March 2016 results. The overall Group position is in line with budgets for the 2017 financial year and expectations are high to meet the closing targets set for the current financial year. “

The highest major revenue contribution came from Basic Industries and Pacific Cement, considering the high demand of construction material experienced over the last quarter.

“As at 31 March 2017, Group assets stand at $502 million, while shareholder’s funds have reached $233 million.”

FHL’s property portfolio includes Ratu Sukuna House, Ra Marama House, Vanua House and the FHL Properties building, all located in Suva’s CBD.

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