Fiji: Fiji Television profit drops - but EMTV division up

Fiji: Fiji Television profit drops - but EMTV division up
11 February 2011

By Elenoa Baselala

SUVA (The Fiji Times/Pacific Media Watch): Fiji Television Limited's profit dropped by 18.6 percent to $1.82 million for the six months ending December 31, 2010.

The company had recorded a profit of $2.24 million for the previous corresponding year.

Fiji TV Group chief executive Tarun Patel said the group performed reasonably despite registering a decline of 18.6 percent.

Patel said that despite a difficult economic operating environment which resulted in a decline in operating revenue, all three companies in the group recorded profits for the period under review.

Media Niugini Limited, operating as EMTV in Papua New Guinea, recorded an increase of 11 percent in total operating revenue from $5.79m in 2009 to $6.42m in the current financial year, however, inflationary pressures in PNG pushed up the cost of doing business, resulted in a decline in profits.

"MNL, which continues to contribute positively to the group's results, posted net profit after tax of $1.49 million for the period under review," Patel said.

ENDS

© Scoop Media