The South Pacific's largest radio broadcast conglomerate Communications Fiji Limited which is the parent company of Legend FM, FM96, Viti FM, Navtarang and Radio Sargam took out the Listed Company of the Year Award at the Inaugural South Pacific Stock Exchange Awards last night at the Grand Pacific Hotel.
Communications Fiji Limited delivered a record profit of $1.714 million for it's Fiji operations last year.
In 2015, the profit recorded was $1.15 million for the Fiji operation.
While officiating at the Awards last night, Acting Prime Minister Aiyaz Sayed‑Khaiyum highlighted that Fiji needs to have a vibrant capital market.
He says having a vibrant capital market provides amongst other things the opportunity to individuals and companies to be able to raise capital without actually having to go to the bank.
Sayed‑Khaiyum adds that government has also provided a number of incentives to encourage companies to enlist.
The Acting Prime Minister stressed that this provides ordinary Fijians another means of investing, it allows ordinary moms and dads to buy shares.
Sayed‑Khaiyum has also acknowledged the South Pacific Stock Exchange for having their inaugural awards to recognize individuals and companies that invest and contribute to Fiji's thriving economy.
Meanwhile, earlier this year the CEO of South Pacific Stock Exchange, Krishika Narayan had stated the current market price of one share of Communications Fiji Limited is $4.35 and the radio company is paying out the highest level of returns to shareholders.
Narayan also highlighted that CFL shares are a highly sought after stock, however, none of the shareholders want to sell their shares at this point.
Chairman, Matt Wilson told shareholders that the Fiji operation is fixed on their target of maintaining the level of profitability they accomplished in 2016.
Grand Awards Category:
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