Fiji Holdings Limited Group has announced a net profit before tax of $70.1 million for the fiscal year ending June 30, 2024, marking an 11 percent increase from the previous year’s $63.2 million.
Group Chair Rokoseru Nabalarua expressed that this robust performance reassures stakeholders and underscores FHL’s dedication to ongoing growth aligned with their strategic objectives. He noted that while the growth was widespread, significant contributions came from key subsidiaries including South Sea Cruises, RB Patel, and Merchant Finance.
The Group faced an increased corporate income tax rate, which resulted in only a $2.42 million rise in the consolidated net profit after tax, compared to the previous year. Nabalarua highlighted that despite the commendable performance, the Board remains cautious, closely observing key indicators like global growth, inflation rates, geopolitical issues, and cyber security concerns.
Additionally, the holding company reported a net profit before tax of $16.94 million, up from $13.02 million in the same period last year. Nabalarua attributed this growth to higher dividends received from FHL Retailing, South Sea Cruises, and Merchant Finance.