Communications Fiji Limited, the parent company of Legend FM, FM96, Viti FM, Navtarang and Radio Sargam has announced an interim dividend payout of 4 cents per share.
Chairman Matt Wilson says the company’s Fiji operations are performing strongly and it expects to deliver a good result for 2015.
CFL has enjoyed robust advertising growth in the third quarter and this is expected to continue through the festive season.
In addition, the company expects a positive return from its 50 percent shareholding in 231 Waimanu Road.
Wilson says CFL’s subsidiary PNG FM Limited faces challenging times as the PNG economy slows.
He says while profitability will drop, it remains significant, underpinned by the dominant position in the market of PNG FM’s three radio stations.
PNG FM Limited’s associate company, Paradise Cinemas remains a concern.
A similar result to last year is expected for Paradise Cinemas.
That was a 2.2 million kina loss.
They are in the final stages of completing a comprehensive review of this investment, especially its debt structure and some announcements are expected in early 2016.
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