FINANCIAL RESULTS Vision Investments records growth

CASH flOW WAS WELL MANAGED WITH A PRUDENT INVESTMENT IN WORKING CAPITAL TO SUPPORT THE GROWTH IN SALES. IN FIJI, THE MACROECONOMIC FUNDAMENTALS ARE STABLE AND AUGURS WELL FOR THE COUNTRY. INflATION AND INTEREST RATES ARE MODERATE AND STABLE. Dilip Khatri CHAIRMAN, VISION INVESTMENTS LIMITED

The Vision Investments Limited group has shown a steady growth with a six per cent revenue increase to $180.4 mil- lion.

The net profit after tax increased 10 per cent to $20.2 million.

In the company’s 2018 annual report, group chairman Dilip Khatri in his review wrote: “The growth is noteworthy considering that in the previous year, performance was boosted by an event which led to a one-off increase in consumer demand.

“I am pleased to report the revenue and aftertax profit for the financial year exceeded by a large margin.”

Mr Khatri attributed the growth to “all business units of the company performing strongly in the year.”

“Cash flow was well managed with a prudent investment in working capital to support the growth in sales,” Mr Khatri said.

He said out of the net earnings for the financial year, the directors declared a total dividend of $10,376,943 which is equal to $0.10 per share, compared to 9.75 cents per share in the previous year.

“We will continue to pursue a consistent dividend policy that balances the twin aims of providing a satisfactory return to shareholders,” Mr Khatri said.

“In Fiji, the macroeconomic fundamentals are stable and augurs well for the country. Inflation and interest rates are moderate and stable.

“The tourism sector - the main stay of the economy, continues to grow with new investment and increasing arrivals.

“Government fiscal policies are stable and consistent and provide assurance for businesses to invest and grow.”

Vision Investments Limited Group chief executive officer P.L. Munasinghe said the balance sheet was strong with total assets increasing 9 per cent to $155 million and liquidity improved with networking capital increasing 13 per cent to $92.3 million.