Vision Investment Limited records profit for the 3rd time
September 25, 2018 4:43 am
The Vision Investment Limited has recorded a $22.8 million profit before tax for the financial year ending March 31st.
Chief Executive, PL Munasinghe says this is an 11 percent increase compared to the same period last year.
Munasinghe says the increase in profit is attributed to the strong performance by its subsidiaries.
“This positive outcome despite taking a fairly material loss of $2.4 million incurred by the PNG operation. If not for that loss, the results would have been better. These outcomes exceeded the three year prospective financial that was disclosed in the information memorandum that was issued at the time of the listing.”
Munasinghe says the total revenue earned stands at $180.4 million, an increase of 6 percent compared to last year.
This is the third consecutive year for the company to beat the financial forecast of the group.
The Vision Investment Limited consists of Courts Fiji, Vision Motors, Mahogany Industries, Vision Finance and Best Buys for Business.
The VIL is a listed company on the South Pacific Stock Exchange.