Financial woes for the Fiji Sugar Cooperation continue to take its toll as the FSC has recorded a net loss of $8.3 million for the third quarter ended 28th February 2010.

For the same period last year, the FSC recorded a net loss of $27.9 million.

The FSC's 3rd quarter report released today shows that the Corporations turnover decreased by 11.1% from $223 million for the previous quarter to $198 million for the current quarter.

The report shows that FSC's liabilities increased by 31% from $177.4 million to $232.9 million in the current quarter while the net worth of the company decreased by 14% over the same period and currently stands at $102.7 million.

The increase in FSC's liabilities is around $55.5 million, however the FSC states in its report that no loans were secured during the third quarter ending 28th February 2010.

Over the same period the FSC raked in $25.5 million in revenue and the FSC's assets increased by 13% from $297.3 million to $335.7 million over the same period.

According to the FSC report, sugar exports to the United Kingdom also decreased from 168,683 tonnes to 152,943 tonnes during the third quarter while Molasses exports increased from 56,285 tonnes to 100,285 tonnes.