Fiji Television Group records loss
September 8, 2014 1:04 am
The Fiji Television Group has recorded a loss in its last financial year which ended June 30th.
Its audited annual report shows a loss of $1.5 million – a huge drop from the 2013 financial year when the company made a profit of $3.6 million.
Revenue from Fiji TV’s key operations, Fiji One, Sky Pacific and its business in Papua New Guinea also fell from $39.5 million to $37.2 million.
The Fiji TV holding company also reported a decrease in profit in the year ended 30th June.
Company chairman Padam Lala says the results are adequate given the challenges and economic conditions faced in different areas of operation in the Pacific.
He adds the depreciation of the Kina during the year had a significant impact.
Lala says the board is undertaking more aggressive actions to ensure the Fiji TV Group delivers results.