Taken from an article in the Fiji Times.
Investors on the South Pacific Stock Exchange continued to earn strong returns in 2005. The top performer was Fosters Group Pacific Limited, posting a total return of more than 80% followed by nine other listed companies that recorded double digit returns for the year to December 2005.
While most of the companies demonstrated strong performance, five of the sixteen listed companies recorded negative total returns ranging from -0.96% to -5.68%, driven by capital losses in those companies' shares.
Investors in the Fosters Group were rewarded with a total return of 84.17%, significantly attributed to the improvement in FGP share price rather than dividend yields.
Flour Mills of Fiji Limited continued on its impressive performance for the second year running, with a total return of 79.4% (2004 : 92.57%).
RB Patel Group Limited followed with a total return of 33.96%. Other companies recording strong performances in the year were the Rice Company of Fiji, with a total return of 25.92%, Fiji Television Limited with a total return of 24.97% and Communications Fiji Limited with a total return of 24.22%.
The Chief Executive of the Capital Markets Development Authority (CMDA) said that 2005 was an eventful year for the equity and stock markets in Fiji. Some of the highlights during the year included listing of Yaqara Group Limited, the Carlton Brewery share split, the merger of the Carlton Brewery Group and South Pacific Distilleries, the Flour Mills of Fiji share split and the Vishal Bhartiya Holdings Limited rights issue. Stock market capitalisation surpassed F$1 billion for the first time in December.
CMDA said that it was pleasing to note that more businesses and investors were now exploring the opportunities that the local stock market has to offer.
Note, however, that past performance is not an indicator of future performance. Investors must always carefully monitor and assess the performance of the individual companies they invest in and seek aadvice from licensed financial advisers on the future earnings potential of their investments.
For investment advice, please e-mail our principal, who is an Investment Adviser licensed by the CMDA, at email@example.com
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