VISION Investments Ltd (VIL), which manages various brands including Courts, Vision Motors, and Mahogany Industries Fiji, has reported a significant group revenue of $223.5 million for the financial year ending March 31, 2025, reflecting a 12.2 percent increase compared to the prior year. This growth was shared in their annual report, recently released on the South Pacific Stock Exchange.
Despite this increase in revenue, pre-tax profits fell to $20.3 million, marking a 12 percent decrease from the previous year. This decline is attributed to several factors including heightened operational costs driven by wage increases, adjustments to the FNPF contributions, and general inflation, which have all placed pressure on profit margins.
In addressing shareholders, Group Chairman Navin Patel noted that the retail sector is facing saturation, which poses limitations on growth opportunities. However, he emphasized that the group remains committed to diversifying its services and optimizing returns from current operations. This aligns with comments made by the CEO, Sanjesh Prasad, who indicated that all divisions within the company performed satisfactorily despite challenging conditions. The automotive sector, in particular, demonstrated a solid year-on-year performance amidst cost pressures and subdued consumer demand.
Furthermore, VIL is actively reviewing its business and operational processes to enhance efficiency. Strategies include workforce multi-skilling and leveraging technology and AI to help mitigate rising costs.
The company continues to adapt to market dynamics, including the impact of rising inflation and changing consumer behavior. By focusing on strategic expansions and operational efficiencies, VIL aims to strengthen its market position and ensure sustainable growth in the long term.
VIL’s proactive approach and commitment to innovation indicate a hopeful outlook for the company’s future amidst current economic challenges. This resilience and adaptability will be crucial as they navigate the ongoing pressures within the retail sector and beyond.
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