Fiji Public Trustee Corporation records total income of $455,925 in 2017

The Fiji Public Trustee Corporation recorded a total comprehensive income of $455,925 in 2017 compared to $386,445 in 2016.

This has been revealed in the Corporations Annual Report of 2017 which has been tabled in Parliament.

The Report says that this is an increase of 18%. Net profit before income tax was $311,984 and net profit after tax was $259,523.

It also highlighted that the total expenses increased by 12% mainly due to the increase in human resource expenses and increase in depreciation costs on the new IT server installed.

The Board of Directors approved the payment of half a million dollars as the dividend payment to Government for the 2017 financial year. This will increase the total amount of dividends paid to Government since corporatisation to $5 million or 54% of the average shareholders’ funds over the years.