The Fiji Sugar Corporation, a company listed on the South Pacific Stock Exchange, has recorded a F$1.7 million profit in its latest financial year, after a F$5 million loss the previous year. The turnaround was despite a reduction in revenue and before equity accounting of investments, impairment charge and income tax.
The Corporations' operating revenue fell to F$235.2 million compared to F$242.7 million last year. This was primarily due to a fall in sugar production that was a result of lower cane production.
This is a pivotal year for the Corporation as it begins its reform program instituted by Government with aid from the European Union.
Note from GV : Individuals or companies that require investment advice can use our company, Gilbert & Samuels Company Limited. Our principal, Gilbert Veisamasama Jr, is an investment advisor licensed by the Capital Markets Development Authority (of Fiji). To contact us, you can e-mail gilbert@connect.com.fj or call telephones +679 3396427 or +679 9921427.
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