RB Pa­tel Ltd records $8.5 mil­lion profit

Fiji Sun - - Sunbiz - PAYAL SHARMA Feed­back: payal.sharma@fi­jisun.com.fj

It has been a strong year of growth for RB Pa­tel Group Lim­ited as there have been some pos­i­tive re­flec­tions in their an­nual re­port.

Yes­ter­day, an an­nual gen­eral meet­ing was held at the Fiji Teach­ers Union with the col­lec­tive board mem­bers whereby, an­nual re­ports were dis­cussed and pre­sented.

As dis­cussed, the op­er­at­ing profit has in­creased by 15 per cent which was due to the in­crease in rev­enue of 4.4 per cent over last year.

Also, the gross profit in­creased by 7.3 per cent and the net profit had an impressive 15.4 per cent in­crease: $8.5 mil­lion af­ter tax. RB Pa­tel Group Lim­ited chair­man Iowane Naiveli said that they have other plans in place for the com­pany.

“The car park build­ing un­der con­struc­tion within our JetPoint Com­plex in Mart­in­tar, Nadi is ex­pected to fin­ish early next year. “Dur­ing the year the board ap­proved an ex­tra level of car park space and the pro­ject will now cost around $6 mil­lion,” he said.

The JetPoint will now have 9 re­tail shops on the ground floor with 3 up­per floors be­ing ex­clu­sively for car park­ing.

By next year, they also ex­pect to fin­ish the con­struc­tion of the res­i­den­tial apart­ment com­plex in Clarke Street, Suva.

“This com­plex con­sists of 8 apart­ments with a cost of $4 mil­lion will is also ex­pected to be com­pleted early next year,” he said. With the clos­ing of the an­nual gen­eral meet­ing, Mr Naiveli said that plans are be­ing drawn up for fu­ture projects at the JetPoint Com­plex in Nadi and the HabourPoint Com­plex in Lami.

The com­pany in over­all is striv­ing to achieve greater heights in the mar­ket with its new in­vest­ment plans put forth.

Photo: Payal Sharma

Stand­ing Left: Iowane Naiveli Chair­man RB Pa­tel Group Lim­ited with Deepak Rathod, chief op­er­at­ing of­fi­cer RB Pa­tel Group Lim­ited.

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