Fiji TV records $1.5m loss
August 21, 2014 7:02 pm
Fiji Television Limited Group has announced a loss of $1.5 million for the year ended June 30, 2014 – this after the company’s $3.6 million profit for the previous financial year.
The revenue for the group dropped by six percent to $37.2 million compared to $39.5 million the previous.
The holding company announced a profit after tax of $1.3 million compared to $2.2 million the previous year.
Given the profits decrease, the revenue for the holding company increased, by 14 percent to $25.7 million when compared to $22.5 million for the previous year.
In a statement Fiji TV Chairman Padam Lala says the operating result for the Group are adequate given the challenges and economic conditions faced in its different areas of operation in the Pacific.