The total assets at Fijian Holdings Group level have reached $328 million as at 30 June 2010 according to a press release made today. FHL Group achieved a consolidated pre-tax profit of $17 million based on a consolidated revenue of $182 million for the financial year ending June 2010. For the same period last year, the group made a pre-tax profit of $55 million from a group revenue of $213 million. Last year’s profit included an extra ordinary profit of $38.7 million from the sale of investments in Fosters Group and foreign exchange gain.

Sereana Qoro, Managing Director of FHL said “when comparing June 2010 results with last year, the pre-tax profit from normal business operations indicates a stronger performance in the current year. Based on normal business operations (excluding Fosters and foreign exchange gain), the FHL group has achieved a revenue growth of 4% for the year while normal pre-tax profit has grown by 8% this year.”

Mrs Qoro added that “the strong performance in June 2010 was largely driven by finance, retail and the building and construction sectors.”

The holding company recorded a revenue of $12 million for the financial year 2010 with a pre-tax profit of $8 million compared to $39 million of pre-tax profit achieved in the previous year; which included $36.3 million extra-ordinary profit from the sale of investments in Fosters Group.

She added further “at the close of Financial year 2010, FHL remains a strong company with a solid balance sheet, conservative gearing and ready access to funds. With the new PNG based subsidiary Pasifika Holdings Ltd and the new Fiji based FHL Logistics Ltd which have just commenced operations; the year ahead would be promising for Fijian Holdings Ltd and its shareholders”.

[END]

Sereana Qoro,
Managing Director

For further queries, please contact the Company Secretary on 330 5017