The Fiji TV Group recorded a net profit after tax of $3.21 million for the financial year ended June 2010 reflecting a significant 381 percent increase from the previous $668,000 last year.

In a market announcement, Fiji TV group revealed that all its 3 companies registered increased profits with Holding company Fiji TV recording a net profit after tax of $1.59 million compared with a net loss of $1.36 million last year which is a 217 percent increase.

Media Niugini in Papua New Guinea recorded a net profit after tax of $3.31 million up by 10.9 percent while Compac recorded a profit after tax of $56,000 an increase of 59.26 percent.

Group CEO Tarun Patel said the improved results are attributed to the effective cost control measures implemented throughout the group.

Patel said the operation in PNG continues to do extremely well on the back of a growing economy and they have seen growth in advertising revenue.

The Fiji TV Group also declared the company=s second interim dividend of $0.07 per share or approximately $721,000 to be paid on the 15th of October.


Story by: Roneel Lal