The Fiji Television board of Directors are pleased to announce the company’s audited financial results for the 12 months ended 30th June 2019.
This saw the consolidated group record a net profit after tax of $1201, 693. This result boast a record 47 percent increase from the prior financial year’s NPAT of $819,248.
Total group revenue for financial year 2019 stood at $11.9m in comparison to $11.7 million achieved in 2018 financial year. This is a 1 percent growth in the revenue compared to the same period last year.
FijiTV total net assets increased by 2 percent from the previous year and stood at $15.2m as at balance date. During financial year the company declared and paid first interim dividend of $422,300 in August 2018 and second interim dividend of $412,000 in February 2019.
FijiTV’s acting chairman Deepak Rathod says the company has performed well given the challenging business environment especially in the media industry.
Meanwhile company CEO Karen Lobendahn says 2019 has been a positive year for FijiTV both financially and operationally. She says while the year has brought many successful events that the FijiTV has brought to the viewers in line with the company’s local and overseas content.
Lobendahn adds the company is looking forward to a better financial year 2020 with the planned projects and business strategies in place.