AFL breaks profit record

Airports Fiji Limited (AFL) recorded a net profit after tax of $12,478,126 for the year 2011 compared to $8, 759,106 reported in 2010.

This was revealed at the handing over of a $1 million dividend cheque to  government today.

AFL chairman Adrian Sofield said this is a record for them as this is an increase of $4 million from their 2010 account.

“Under circumstances, we would like to give more,” said Sofield.

However, he said they are investing on some of their capital development projects.

The positive financial outcome was a result of continuous careful planning, financial discipline, and better utilization of existing facilities.

“Revenue grew by $4,612 million or 8.3 per cent and expenditure increase by $3,999 million or 9.1 per cent compared to the previous year,” he said.

Attorney General and Minister for Trade Aiyaz Sayed-Khaiyum said it is pleasing to note the record of the profit by AFL.

He said the need to have a modern airport in Fiji is vital as the country is now having a lot of visitors and major developments are taking place in the tourism industry.

By Ropate Valemei