AFL to announce dividend payout today
July 26, 2016 10:18 pm
Airports Fiji Limited is expected to announce its dividend payout to the government this afternoon.
FBC News understands an estimated $30m will be paid out.
AFL Executive Chairman Faiz Khan will present the unprecedented cheque to Permanent Secretary for Public Enterprises David Kolitagane.
AFL’s net operating profit before tax is $45.65m with a net interest income of $398,000 bringing the total profit before tax of $46.04M, compared to $18.02M in 2014.
Total revenue in 2015 increased to $92.55M compared to $64.37M in 2014.
Total Operating expenditure in 2015 was $45.88M compared to $46.35M in 2014, a decrease of 1%.
Despite undertaking the multi million dollars Nadi Airport Terminal Modernization Project and declaring $15M in dividend, last year’s cash and cash equivalent position stood at $60.16M at the end of 2015 when compared to the same period in 2014.
In 2015 AFL further contributed $3.04M in its social obligation to maintaining Nausori and 13 other outer island airports that make losses.