A strong performance by its Papua New Guinea subsidiary Media Niugini Limited cushioned a 75 percent plunge in 2008/2009 profits for the Fiji Television Group led by losses in Fiji Television Limited and Compac.

From 2.73 million dollars the previous year, Fiji TV group's after tax profit plummeted to 668 thousand 128 dollars in a year described by Chairman Isoa Kaloumaira as one of the most challenging.

Accoring to the Post Courier, Kaloumaira said continuing negative economic growth, the global financial crisis, devaluation of the Fiji dollar and the imposition of media censorship in April were unchartered territory sorely testing the mantle of stewardship.

However a delighted National Sales Manager of Media Niugini Limited which runs EMTV, Peter Jackson describes his company's performance as encouraging. He said it is fantastic and shows real confidence in PNG.

Kaloumaira said a net profit after tax of 2.83 million dollars by Media Niugini offset the losses in Fiji.

Fiji Television Limited's 1.362 million after tax loss mainly due to the increased cost of programming and satellite delivery and a 1.1 million provisioning. Advertising sales revenue for Fiji TV Limited also decreased by 15 percent.

Subsidiary company Compac recorded a loss of 565 thousand 125 dollars.