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Monday, April 16, 2007

Communications Fiji Limited records a large reduction in profit

Communications Fiji Limited (CFL), a company listed on the South Pacific Stock Exchange, has recorded a large reduction in operating profit. CFL's profit after tax fell to F$12,904 for the year ended December 2006 compared to F$217,102 recorded in the same period in 2005 .

The company has given reasons for the downturn as including difficulties arising from the recent political events in Fiji and an overall focus on consolidation.

Following expansion in 2005, CFL has concentrated on strengthening management systems and maintaining clear goals.

The company is expected to see an increase in profits over 2007 with increased revenues and significantly reduced expenditure.

CFL holds 45% shares in a local Internet Service Provider, Unwired Fiji, and owns radio stations FM96 and Legend FM.

Note : If you require investment advice, you can use our company, Gilbert & Samuels Company Limited. Our principal, Gilbert Veisamasama Jr, is an Investment Advisor licensed by the Capital Markets Development Authority (of Fiji). To contact us, e-mail gilbert@connect.com.fj or call telephones (679) 3396427 or (679) 9921427.

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