The government-owned Food Processors Fiji Ltd (FPFL) has set an ambitious target of achieving over half a million dollars in profit for its financial year 2025, continuing its journey towards profitability. This comes after a challenging period where the company reported a significant net loss of $515,959 back in 2019. However, under the new management and with the implementation of strategic initiatives, FPFL turned the situation around, showcasing impressive financial growth with an unaudited net profit trajectory over the past several years: $569,838 in 2020, $355,886 in 2021, $132,090 in 2022, $157,728 in 2023, and $502,322 in 2024.
At the recent opening of a $1.2 million modernized facility in Suva, which has tripled production capacity from two tonnes to six tonnes, FPFL’s chairman Raj Sharma emphasized the transformative impact of this development. He noted that these advances have not only bolstered the company’s production but have also significantly increased agricultural output from 500 tonnes to 1,500 tonnes annually, paving the way for enhanced economic opportunities and job creation.
Currently, FPFL’s export markets include New Zealand, Australia, the USA, Canada, and the UK, with plans to explore entry into the UAE market through collaborations with various government ministries. Highlighting the company’s financial progress, Mr. Sharma reported an increase in sales revenues from $2.7 million in 2019 to a substantial $6.5 million in 2024, accounting for a remarkable growth in revenue exceeding 30% compared to the previous year.
Amidst these achievements, Sharma also recognized ongoing challenges, such as aging infrastructure and logistical hurdles affecting production. However, FPFL remains committed to innovations and governance improvements, aiming to obtain ISO 14001 and ISO 45001 certifications to further enhance operational standards while safeguarding the environment and employee welfare.
This optimistic trajectory signals FPFL’s potential not just for recovery but for sustainable growth and increased contributions to Fiji’s economy. The proactive steps being taken reflect a company not merely surviving but thriving, aligning with broader economic development goals.
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