‘In Great Shape’
DISCIPLINED FINANCIAL CONTROL CONTRIBUTED TO 108% PROFIT INCREASE
Coconut palmwood manufacturer, Pacific Green Industries Fiji Limited, has recorded 108 per cent profits in its last financial year.
The Malaqereqere-based manufacturer in Nadroga said the turnaround was the result of making ground on lost pre-COVID-19 as the market conditions improved and demand increased.
The listed company’s acting chairman and general manager, Ravin Chandra, said the company aimed to deliver strong margins, despite market conditions.
“We remained focused,” he said in his report.
“We are impressed with the team’s focus on execution, most notably on seizing opportunities to significantly help in business growth. “The strong results were due to reduced operating costs through more efficient production processes, and better inventory management, timely project delivery and capital discipline.
“We have not only exceeded budgeted sales, but exceeded budgeted profit.
“Pacific Green enters the 2023 financial year in great shape.”
Safety performance upheld
Pacific Green’s safety performance was upheld – a fact the company prides itself with, Mr Chandra said.
“We continue to make progress in building inclusive, diverse, and high performing teams and culture,” he said.
“We continued to invest in our em
ployees by providing training and development opportunities, where applicable, to ensure that we have a skilled workforce that can deliver the high-quality niche products that we are renowned for.”
Last year, Pacific Green made 92 per cent of sales within the local market.
In 2021, local sales was cent, the company said.
Eco park
88 per
Pacific Green caters to the highend market for its furniture and architectural products.
It has an eco-park project as its biological asset, which was launched in 2012.