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BUSINESS NEWS

Pacific Green records decreased profits

April 08, 2009 05:17:43 PM
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Fiji’s manufacturer and distributor of palmwood furniture Pacific Green Industries (Fiji) Ltd (PGI) recorded a decreased profit of $203,252 in its financial year ending December 31, 2008.

This represents a 73 per cent reduction from the $741,216 in profit recorded for the previous corresponding full year.

The company’s financial statement released to the local Stock Exchange (SPSE) today revealed this result was recorded despite recording total operating revenue of $7,653,430.

The statement also noted accumulated losses at the beginning of the financial year in review recorded at $3,844,697.

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