VISION INVESTMENTS LIMITED RELEASES RESULTS

Vision Investment Limited released its operating results statement for the half year period ended September 30, 2018.

The Group recorded a strong performance in the period with a profit before tax of $14.8million (2017 - $10.5million) on total sales revenue of $100.7million (2017 $83.6million).

Group Revenue and Profit before Tax increased by 20 per cent and 41per cent respectively over the corresponding period last year.

The Parent Company’s retail division benefited from the Homes Care Initiative of Government. This resulted in a significant increase in revenue in the first half of the year.

This spike in sales is anticipated to be one-off. The other divisions recorded steady revenue and profit performance, which contributed to the strong performance by the Parent Company. The subsidiary Vision Homecentres Limited in PNG trading as Home and More showed improvement in performance over the corresponding period last year, although incurring an operating loss for the half year. The retail sales during the 2nd quarter of the financial year was adversely impacted by the extensive road and civil works in the vicinity of the retail store that were undertaken by the Government in preparation for the APEC Conference to be held in November this year.

It is anticipated the retail sales will stabilise after the conference.

Group total assets increased by 11per cent to $159.0million and shareholders fundsincreased by 18 per cent to $92.7million over the corresponding period last year.

After considering the half year operating results of the Group, on November 16,

2018, the directors declared a first

interim dividend of $0.04 cents per ordinary share, amounting to a total dividend payment of $4,150,777 for the financial year ending 31st March 2019. The dates relevant to this payment of dividend are as follows:

A. Date of declaration of dividend: November 16, 2018

B. Date of closure of share registry: December 7, 2018

C. Date of ex-benefit: November 29, 2018 D. Date of payment of dividends: December 10, 2018 Source: South Pacific Stock Exchange