IT was a bumper year for Fijian Holdings Limited after the company announced a consolidated net profit before tax of $FJD67 million for the previous financial year. It was an 11 per cent increase from FY 2025.
Another big achievement was asset acquisition which exceeded one billion for the first time. Strategic investments and a big focus on efficiency and productivity helped the company’s asset portfolio grow from $FJD917.3 million to $FJD1.09 billion. The single largest investment to date was the FHL Tower, which opened in October of last year.
Chairman Rokoseru Nabalarua said that while exceeding the $1 billion mark was certainly a great achievement, the focus was now on long term sustainability.
“Our focus now shifts from growing the asset base to ensuring that these investments deliver the returns expected from them,” he said.
Among strong performers were some of the company’s key entities including Merchant Finance Limited that expanded its lending portfolio into nontraditional markets. RB Patel Group also had a profitable year in the face of stronger competition and higher operating costs.
Basic Industries (BIL) showed a big improvement following the restructuring of its underperforming divisions, delivering net profit before tax of $FJD4 million compared to a loss of $FJD 1.6 million in FY2025. Pacific Cement (PCL) also delivered a decent result despite ongoing challenges with its current mill and has appointed a vendor to supply a new cement mill as part of its plant upgrade. FHL’s investment in Fletcher Higgins complements its existing interests in BIL and PCL, providing opportunities for synergies across the construction and infrastructure sectors.
FHL was also able to increase its shareholding in Port Denarau Marina Limited from 27.5 per cent to 51 per cent giving the Group control of the business. Port Denarau Marina is now consolidated as part of the FHL Group and the hope is that it will make a good contribution in terms of earnings and long-term growth. South Sea Cruises expanded its fleet investing in a new cruise vessel and strengthened its tourism presence through the acquisition of Mai Sunset, a resort in the Yasawas.
It wasn’t all smooth sailing though. The grounding of the Fiji Princess affected South Sea Cruises’ performance, while impairment losses were recognised against non-performing investments, particularly Fletcher Higgins and Fiji Television. FHL is also keeping a close eye on the fuel crisis and rising business costs.
At the Holding Company level, FHL recorded a profit before tax of $FJD20 million, up from $FJD 18.7 million in FY2025. Revenues improved, supported by higher dividends from South Sea Cruises, Merchant Finance, and investment property-related gains.
With its asset base now exceeding $FJD1 billion, FHL enters its next phase under the theme “Realising Beyond Our Comfort Zone.”
The focus will be on improving returns from existing investments, strengthening underperforming assets, and capturing synergies across the Group.
