VISION Investments Ltd (VIL), which oversees well-known brands such as Courts, Vision Motors, Mahogany Industries Fiji, and Vision Finance, reported a group revenue of $223.5 million for the financial year ending March 31, 2025. This represents a notable increase of 12.2 percent compared to the previous year. The annual report was shared publicly at the South Pacific Stock Exchange, where VIL is listed.
In his address to shareholders, Group Chairman Navin Patel observed that the retail sector is facing saturation, which limits growth opportunities. He emphasized the company’s commitment to diversification and expansion of services, while also focusing on optimizing returns from existing operations.
However, challenges persist as profit margins have shrunk due to several factors, including increased operating costs stemming from mandated wage hikes, higher contributions to the FNPF fund now at 10 percent, general inflation, and escalating rental expenses. This resulted in a pre-tax profit decrease to $20.3 million, marking a 12 percent decline from the previous year.
To counteract rising operational costs, Patel noted that business and operational process reviews are ongoing, looking to enhance efficiency and productivity through potential strategies like workforce multi-skilling and the integration of technology and artificial intelligence.
VIL’s Chief Executive Officer Sanjesh Prasad stated that despite the difficulties posed by subdued consumer demand, all business units performed satisfactorily during the past financial year. The retail segment saw modest growth, while the automotive division showed robust year-on-year performance, indicating areas of strength amidst overall sector challenges.
Surrounding these developments, it is essential to highlight that VIL is focused on long-term growth strategies, including diversification, which could lead to enhancing their market resilience. This strategic vision positions VIL favorably to navigate the oftentimes challenging economic landscape.
The current financial performance, while reflecting some setbacks, also showcases a responsible approach toward managing operations. The focus on technology and workforce optimization is a promising trend that could set VIL on a path to improved profit margins and sustainable growth moving forward.
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