FHL profit up 11%, assets exceed $1b

Fiji [Oceania], September 29: Fijian Holdings Limited Group recorded a consolidated net profit before tax of $67.0 million for the year ended 30 June 2026, an increase of 11% from $60.3 million in FY2025.
The year ended with a major milestone, with total assets exceeding $1 billion for the first time, increasing from $917.3 million to $1.09 billion.
Growth in profit and assets was supported by strategic investments and continued focus on improving efficiency and productivity.
The opening of the FHL Tower in October marked an important moment in Group history, representing the completion of its largest investment.
Merchant Finance Limited continued to grow its lending portfolio, particularly in market segments not traditionally served by other financiers.
RB Patel Group delivered year-on-year profit growth despite competition from new market participants and pressure on operating costs.
Basic Industries recorded a turnaround following restructuring of under-performing divisions, delivering net profit before tax of $4.0 million compared to a loss of $1.6 million in FY2025.
Pacific Cement delivered a decent result despite ongoing challenges with the current mill.
PCL has taken the next step in upgrading its plant by appointing a vendor to supply a new cement mill.
FHL's investment in Fletcher Higgins complements existing interests in BIL and PCL, providing opportunities to realise synergies across construction and infrastructure sectors.
During the year, FHL increased its shareholding in Port Denarau Marina Limited from 27.5% to 51%, giving the Group control. Port Denarau Marina is now consolidated as part of FHL Group and is expected to make a stronger contribution to earnings and long-term growth.
South Sea Cruises expanded its fleet through investment in a new cruise vessel and strengthened its presence in tourism through its acquisition of Mai Sunset, a resort in the Yasawa Islands.
The year was not without challenges.
The grounding of the Fiji Princess affected the performance of South Sea Cruises, while impairment losses were recognised against non-performing investments, particularly Fletcher Higgins and Fiji Television.
FHL remains mindful of the uncertain operating environment, including the fuel crisis and rising cost of doing business.
The FY2026 result demonstrates the Group's resilience and provides a platform for its next stage of growth.
At the Holding Company level, FHL recorded a profit before tax of $20 million, compared with $18.7 million in FY2025.
Revenues improved during the year, supported by higher dividends received from South Sea Cruises, Merchant Finance, and investment property-related gains.
Group Chair Rokoseru Nabalarua says they achieved an important milestone, with total assets exceeding $1 billion and all core operating entities remaining profitable.
Nabalarua says focus now shifts from growing the asset base to ensuring these investments deliver expected returns.
Source: Fijian Broadcasting Cooperation