Pacific Green Industries Fiji (PGI), a manufacturer and retailer of coconut palm furniture, has urged the Government and all stakeholders to focus on purchasing local products. Chairman Ravin Chandra emphasized that such a decision would not only enhance national pride but also leave a positive impression on international visitors, highlighting what makes Fiji unique on the global stage.
“By showcasing our local products and talents, we can directly influence job creation, especially in the rural areas of Sigatoka,” Mr. Chandra stated. He noted that supporting Pacific Green is not merely an economic investment but also a commitment to sustainability and excellence.
His remarks came as PGI announced its financial performance for the six months ending June 30, 2024. The company reported a net profit of $145,548, down from $217,526 during the same period the previous year. Total income for PGI was $1,812,875, a decrease from $2,189,861 earned in the prior year.
Mr. Chandra attributed the decline in revenue to several factors, including a shrinking customer base due to mass migration, ongoing legal issues with their online marketplace, reduced discretionary spending in Fiji, and the availability of cheaper, inferior imported products.
In response to these challenges, PGI has implemented proactive cost management strategies, such as securing competitive pricing for raw materials despite global supply chain disruptions and negotiating better freight terms to mitigate rising transportation costs.
The company’s net assets grew to $6.9 million, up from $6.7 million in December of the previous year, and total assets increased to $8.4 million from $7.8 million in 2023, highlighting PGI’s ongoing commitment to financial growth.