Kontiki Finance Limited, a local credit institution, has announced another successful quarter, with its chairman, Barry Whiteside, expressing optimism about future growth as the economy improves.
Whiteside stated, “We are pleased to report another strong quarter of growth, with our interest income and net interest income both showing substantial increases.” He added that this robust performance solidifies Kontiki’s status as a market leader and reflects the positive outlook for continued expansion alongside the strengthening Fijian economy.
The impressive results stemmed from profit retention, an increase in interest income, and a rise in financial assets. “Interest income surged by 29 percent to $11.7 million, while net interest income soared by 42 percent to $9.8 million compared to the same period last year,” Whiteside noted.
Additionally, retained profit climbed by 10 percent, reaching $28.7 million, and comprehensive income rose by four percent to $2.7 million. Kontiki’s financial assets increased from $75 million to $81 million, with total assets under management exceeding $300 million.
Total shareholders’ funds saw a seven percent growth, settling at $44.3 million, up from $41.3 million the previous year.
Leave a comment