CFL announces a final group profit after tax of $1.551 million

Communications Fiji Ltd (CFL), the South Pacific region’s largest commercial broadcaster and parent company of fijivillage, Legend FM, FM96, Viti FM, Navtarang and Radio Sargam, has announced a final group profit after tax of $1.551 million for the year ended December 31st 2022.

CFL Group Chairperson, William Parkinson says the result was a strong one considering the challenges faced in both Fiji and Papua New Guinea.

Parkinson says CFL Fiji operations recorded an improvement in performance delivering an after-tax profit of $842,840.

PNG FM recorded an after-tax profit of 1.146 million kina.

The increase in profit resulted largely from the Total Event Company and the resumption of public events.

Communications Fiji Limited has also announced a final dividend of 13 cents per share.

This takes dividends paid out for the year ended December 31st 2022, to 17 cents per share compared to 8 cents per share in 2021.

The dividend payment will be made on 28th April 2023.

Looking ahead Parkinson says CFL comes out of this difficult time with a strong balance sheet and well equipped to tackle the future.

He also says PNG FM expects to commence construction of its new studio complex shortly and CFL Fiji is expecting good growth in a much more positive political and economic environment.

Parkinson also says they are looking forward to relaunching Showcase Fiji and are already seeing growth across CFL’s broadcast and digital products.

Meanwhile the Board of PNG FM Limited has also announced the appointment of CFL Fiji General Manager, Charles Taylor, as a Director.

PNG FM Board Chair, Peter Aitsi says this recognises Taylor’s personal experience in the PNG market and the increased role CFL Fiji is playing in providing management support to PNG FM.