Fiji Holdings Limited Group has achieved 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 emphasized that this strong performance is encouraging for stakeholders, reflecting FHL’s dedication to sustained growth aligned with their strategic objectives. He noted that while the growth was widely distributed, the main contributors to this profit were the core subsidiaries: South Sea Cruises, RB Patel, and Merchant Finance.
The Group faced challenges due to an increased corporate income tax rate, resulting in a modest rise of only $2.42 million in the Group’s consolidated net profit after tax compared to the prior year.
Nabalarua remarked that despite a commendable year, the Board continues to remain alert, keeping a close watch on various factors such as global economic growth, inflation rates, geopolitical tensions, and cyber security concerns.
Additionally, the Holding company reported a net profit before tax of $16.94 million, an increase from $13.02 million during the same period last year. Nabalarua attributed this growth to higher dividends from FHL Retailing, South Sea Cruises, and Merchant Finance.