Praneeta Prakash 
[File Photo]
The Fijian Holding Limited Group has reported a decline in profit before tax for the six months ending December 31, 2024, despite a modest increase in revenue.
In a statement, the group states that their revenue rose by 5.8 percent to $210.6 million compared to the same period last year.
However, profit before tax fell to $37.3 million, down from $39.3 million.
The profit reduction was a direct result of accelerating costs of doing business, together with dampening demand.
As of 31st December 2024, the net assets of the Group closed at $383.3m.
The group’s performance was varied across its different sectors.
While tourism, cement manufacturing, and fund management divisions demonstrated growth, key subsidiaries in the retail and financial services sectors experienced a slowdown.
Additionally, the construction and media sectors also underperformed.
In response to these challenges, FHL Group has announced plans to implement cost-cutting measures, enhance operational efficiency, and continue its investment in digital initiatives.
Looking ahead, the group anticipates further headwinds from uncertainties surrounding world trade, fluctuations in commodity prices, and inflation.
The group says while there are encouraging signs of increased investment spending, concerns remain regarding a potential slowdown in the tourism sector and a weakening of consumption spending due to rising costs.
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