Communications Fiji Limited, the parent company of Fijivillage, FM 96, Viti FM, Radio Sargam and Radio Navtarang is forecasting an end of the year after tax profit of just under $1 million.
CFL Managing Director, William Parkinson revealed this at a Brokers briefing held at the South Pacific Stock Exchange this morning, while announcing the group results for the first six months of this year.
The total profit after tax for the first six months of this year is $342,457 compared to $238,749 during the same period last year.
He said CFL's Fiji broadcasting operations continue to lead the way delivering growth in 2008 due to steady radio advertising revenues, improved results from Fiji Showcase and the new media division in addition to tight cost management.
In Papua New Guinea, PNG FM which is 100 percent owned by CFL had a slightly quieter first half of the year in comparison to 2008 but the second half is looking particularly strong with good growth in radio advertising revenues, the successful completion of the second showcase PNG and the launch of SMS texting.
According to Parkinson, Wireless internet service provider Unwired Fiji, in which CFL owns 35 percent shares, is expected to deliver an improved results in 2009 following the completion of restructuring of the organization and the launch of their new 4G WiMAX network.
Last year the company paid out an interim and final dividend of 4 cents per share respectively, totalling 8 cents for the year.
CFL forecast end of year profit
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