In a press release made today, Fijian Holding Limited announced it’s group financial performance for the six months ending 31 December 2010.  Accordingly, FHL recorded a consolidated group revenue of $102 million for the six months, a moderate 6% growth compared to the same period in the previous year. “This is the first time in the history, FHL exceeded $100 million mark for the first six months period and this was propelled by strong performance from Merchant Finance, RB Patel Group and two new subsidiaries, namely FHL Logistics Ltd and PNG based Pasifika Holdings Ltd” said Iowane Naiveli, Acting Chairman of the Group.

Nouzab Fareed, the Acting Chief Executive for the Group said, “The Group pre-tax earnings reached $12.49 million, reflecting a 31% improvement compared to the same period last year. The holding company together with Merchant Finance, Fiji Industries Limited and Fijian Property Trust Company Limited contributed significantly to the outstanding results”

Fareed continued “During this period, FHL has achieved several important milestones, namely commencement of commercial operation of the first overseas subsidiary in PNG and FHL Logistics Ltd.  In addition, FHL made a commercial loan of $20 million to the Indigenous Affairs Board and divested its entire holdings in Clariti South Pacific Ltd”.

Iowane Naiveli, Acting Chairman of the Group also added “We are ready to face the challenges in the coming six months and the FHL group is on the right path to achieve its’ group budget”.

END

Acting Chairman – FHL Director / Company Secretary