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Wednesday, February 28, 2007

Flour Mills of Fiji records a loss

Flour Mills of Fiji (FMF), a company listed on the South Pacific Stock Exchange, has recorded a loss of F$1.2 million for the six months ended 31 December, 2006. For the same period the previous year, the company had recorded a profit of F$1.3 million.

The loss has been attributed to increases in wheat prices - an ingredient used in making flour and other products that the company makes. Increases in fuel and freight costs, electricity charges and borrowing cost also contributed to the negative growth.

No dividends has been declared for the period.

The company is working in increase in the price of flour, restructuring and cost control as measures to improve its performance for the next six months.

Note : Readers who require investment advice can contact our company, Gilbert & Samuels Company Limited, for assistance. Our contacts are : e-mail gilbert@connect.com.fj or telephone (679) 3396427.

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