Business
Revenue drop for Ports Fiji
Edwin Nand February 3, 2021 4:20 pm
Ports Fiji took a twenty percent hit in revenue last year due to COVID-19.
Ports Fiji took a twenty percent hit in revenue last year due to COVID-19.
Ports Fiji Board Chair, Hasmukh Patel, says international shipping was reduced significantly in 2020, affecting their bottom line.
“The cargo that was being imported, volumes came down and when volume reduces, the amount of money we make come down. We lost about 20% of the business.”
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Shipping did pick up again the later part of 2020, but not enough to match up to 2019 levels when the company reported a profit after tax of $28 million dollars.
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